The less than hawkish FOMC report send the pair below the 116 level hitting the lows at 115.57 crushing all supports. The technical picture is deteriorating for USDJPY and have already lost 200 pips in the Asian trading session. The massive sell off drove the pair to oversold levels and some traders will run to buy the dip for the rebound. First target on the upside the 116.25 level.
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