Hanging above the support level but not going far
The USDJPY has a couple of key events that increase volatility and risk dependent on how they go.
There are a lot of different scenarios that make the trading decision more of a gamble. The indications from the BOJ are for the potential for more stimulus. For the Fed, they are supposed to be looking to tighten in 2016. They are not going to do it today but what about June? That will be the key takeaway from that meeting.