USD/JPY (current price: 105.53 )
The pair traded as low as 104 yesterday before rallying to 106.50 today in early trading, and falling yet again back to the all-important 105.50 level. The volatile conditions will probably continue throughout the day, as there might be lower trading volumes before the crucial FED meeting in the evening. The Yen still traded without any major economic release from Japan, as the furious swings were all caused by rumors and false headlines.
Our assessment: The cross traded around the prior swing low at 105.50 that might remain in focus today and in the coming days as stimulus hopes could still dominate the news flow.
