• Dollar firms, yen wobbles near 7-month high ahead of Fed, BOJ decisions

• USD/JPY has risen from 153.38 to 154.61, on Monday, so far according to EBS data

• However spot is stuck under the 154.66 level, 23.6% of the 160.39-152.89 September fall

• A break and daily close above the 154.66 level would hint at a bigger recovery

• USD/JPY and EUR/JPY tend to move in tandem, log correlations are high above +0.5

Daily Chart


Daily Chart


Correlation Chart

(Martin Miller is a Reuters market analyst. The views expressed are his own)