USDJPY getting a little nervy ahead of the Fed

It's done naff all for two days but we've now fallen nearly 30 pips to 120.87 as pressure in the crosses finally takes hold of the major

120.70 is still the first big test for any pre-FOMC moves

USD/JPY H1 chart

As I've mentioned a couple of times, there's no real news behind the moves but traders will be exiting/adjusting positions and the lower liquidity will see these moves having a wider effect than normal