USD/JPY: Should range trade ahead of Fed
- The market will start returning to normal after the lengthy holiday periods;
- Thursday’s FOMC will be the next big risk event;
- USD/JPY has major long-term resistance levels at 105.50 and short-term support at 103.90;
- We can expect this range to be tested on multiple occasions over the next few days;
- I’m staying in the sell-big-rally camp.