•USD/JPY at present trading around 111.80.
•The pair has broken above 100-DMA at 111.13 yesterday. There is a strong resistance zone at 111.70 - 112.21 [200-DMA] and a break above needed for further upside.
•Traders await FOMC and BOJ policy decision due later this week for fresh impetus.
•Market is gearing up for a possibly more hawkish FOMC meeting minutes, despite the risks to the US economy.
Support levels - 111.13 (100-DMA), 110.95 (previous resistance) & 110.38 (50-DMA)
Resistance levels - 111.75 (61.8% Fib retrace of 114.49 to 107.30 fall), 112.21 (200-DMA)