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USDJPY: Looking to buy on pullbacks - 2ndSkies

FXStreet (Bali) - After the FOMC-induced buying, Chris Capre, Founder at 2ndSkies, is looking to buy USD/JPY into support around 108.35 and 108.20, targeting 109.10 and 110.00.

Key Quotes

"Also a beneficiary of the FOMC rout of the majors, the USDJPY price action went ballistic jumping ~100 pips within an hour of the announcement. Just like the others, unless we see an about face (which we did after the last FOMC), I'm looking to buy the USDJPY on pullbacks into support."

"108.35 seems like a decent place, and I think anywhere between this level and the pseudo pre-breakout structure highs around 108.20 offer a good trade location to get long. Upside targets for me are 109.10 and the big figure at 110."

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