The FOMC is up to bat.  The USDJPY will have the purist reaction of all the currency pairs.   If QE is announced the pair could spike lower towards support at 77 followed by 76.  If these levels are approached intervention will once be in the wind.  If the FOMC remains on the sidelines a push back from the brink for the pair could lead to a move back up towards 78.15.

Sup  78.60

Res  78.15

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