JPY Trading Outlook (20-02-2014)

USD/JPY: USD/JPY continued its range trading of 101.80 -102.80. Data before the FOMC statement did not help the Dollar to make further gains but the relatively hawkish statement from FOMC boosted the pair above 102. 102.80 is yet to be tested, main focus in Asia session will be on how the Nikkei react to the statement, a break above 102.85 will break the range and start a new bull trend.

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