USDJPY ahead of the FOMC

This pair is pushing higher like a madman and shows no signs of weakness what so ever. But it does not change the fact that we are against the channel resistance.
The whole rally looks a bit stretched but today is not the day to short this beast.
A break-out higher is very much in cards but choosing a target is not easy as we are inside a huge consolidation area on monthly TF. Hence any former support area could turn out to be THE new resistance, which is strong enough to end this rally.

Time will tell.