Squeezes above the 38.2%. Trades at the highest level since January 6th
I wouldn't have thought it, but today is a different trading day with risk increased as a result of the FOMC decision. Technically, there have been bullish signs with the holding of the 100 hour MA and trend line at the lows and the breaking of the trend line on the topside.
The price moved above the 38.2% at the 118.85 and the high from Friday and Monday on the way to 118.93. Stocks have rebounded and the Dow and S&P are positive. Maybe that is a help, but when stocks were lower the USDJPY was moving higher. I think perhaps the move is more a reflection of expectations, squaring up, a squeeze, a buyer. It may be related to the fear/risk from the decision. We really don't know. All I do know is the charts told a bullish story and risk is increased. Funny things can happen.