USD/JPY chart - Trading View
USD/JPY was trading 0.11% lower on the day at 113.82 at around 06:45 GMT, extends range trade ahead of the Fed policy meeting.
The Fed is expected to announce the tapering of its $120 billion-a-month asset purchase programme in its policy statement at 1800 GMT.
Investors expect the Federal Reserve to begin unwinding pandemic-era policy support faster than central banks in Europe and Japan.
Markets also await for clues around the timing of rate rises, after volatile moves in the bond market in anticipation of hikes as soon as next year.
Major trend for the pair is bullish. But the pair has been struggling at 114 handle from the past few weeks.
Overbought conditions on the weekly charts keep scope for pullbacks. On the flipside, breakout above 114 handle will fuel the next bull run.


FxWirePro: EUR/NZD downside pressure builds, key support level in focus
AUDJPY Action Bias: Bullish Dip-Buy Setup Despite Flat Neutral Bias
AUDJPY Weakness Deepens: Sell Rallies Toward 112 as Aussie Dollar Falters
Major Pair Action Bias: Bullish Pairs to Watch Out For
FxWirePro- Major Crypto levels and bias summary
FxWirePro: NZD/USD edges lower, remains on back foot
FxWirePro: EUR/NZD up trend gains momentum but hurdles ahead
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
NZDJPY Action Bias: Bullish Dip-Buying Opportunity on Broad Yen Weakness
NZDJPY Pullback: Sell Rallies Toward 93.30 as Yen Weakness Eases
GBPJPY Slips After Sterling Weakness, Bears Eye 216
FxWirePro: USD/ZAR uptrend loses steam, remains on bullish path
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
Major Pairs Action Bias: USDCAD and USDCHF Stand Out as Extremely Bullish While GBPUSD and NZDUSD Turn Extremely Bearish
FxWirePro- Woodies pivot (Major)
FxWirePro: NZD/USD gains as U.S.-Iran peace hopes boost risk sentiment 



