JPY bulls fought back control after Wednesday's less dovish FOMC renewed expectations for a US rate lift-off in December and lifted USD higher.
- USD spiked to almost three-month highs against its major peers on Wednesday, USD/JPY hit 121.26 overnight
- The pair has erased more than half of yesterday's FOMC-backed gains, is holding just above cloud base at 120.67, at the time of writing trading at 120.75
- Upbeat Japan's industrial output figures, which appears to ease the pressure on the BOJ to ease this week supporting JPY
- Japan industrial output rose a solid 1% m/m in September, opposed to market expectations of a 0.5% decline in output
- Technicals point South, Stochs are at overbought, on the verge of a bearish crossover, RSI is biased lower
- Immediate resistance for the pair is seen at 120.99 (200 DMA), while support on the downside is located at 120.30 (daily Tenkan)
- Due later today in the NY Session, US advance GDP estimate will remain the main highlight together with BOJ policy decision due tomorrow
Recommendation: Good to sell USD/JPY rallies around 120.85, SL: 121.30, TP: 120.30


FxWirePro- Major European Indices
FxWirePro: NZD/USD sustains gains as uptrend remains strong
GBPJPY Eyes 208: Pound Pulls Back, Bulls Guard 206
FxWirePro: GBP/NZD edges higher but bearish outlook persists
Dollar Crumbles on Dovish Fed Bets – USD/CHF Eyes 0.7865 Next
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies Pivot(Major)
FxWirePro: EUR/AUD set To for bigger drop, but close below key fibo needed
CAD/JPY Rockets on Blowout Canadian Jobs Surprise – Bulls Target 113-115 as BoC Cut Odds Collapse
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
FxWirePro: USD/JPY dips below lower range, bearish bias increases
FxWirePro: GBP/AUD positions for another drop, eyes 2.0100 level
Yen Storm Hits EURJPY: Crashes Below 181 – Sell the Bounce Intraday! Target 179.50 with Tight Stop Above 181.45
AUDJPY Rangebound: Bulls Hold 102, Watch for Breakout Above 102.85
FxWirePro- Major Crypto levels and bias summary 



