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Why USDJPY is attracting buyers: Steve Lucas

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Two unchanged weekly closes in USDJPY and a market that has continued to trade inside last Thursday's range is reflective of a low volume environment that exists ahead of the Federal Open Market Committee meeting today, says 3CAnalysis's Steve Lucas.

Steve believes that while signals were bearish on Tuesday the pullback is attracting buyers at a daily bull trend. 

Steve's call today is more cautious than usual, in that he is staying square to start with, but buying the dip at 113.11 with a stop loss at 112.61. His targets are 113.97 and 114.88.