From eFX, the view from Credit Agricole:
Investors should thus expect USD/JPY to rise pre-FOMC then fall post-FOMC on carry-based influences, before familiar risk aversion concerns re-exert their themselves to drive the pair even lower.
We look for USD/JPY to test above 96.0 ahead of today’s meeting before reversing to test support at 94.0.
Kudos for calling direction AND timing.