USD/JPY 4H Chart 12/12/2012 8:50AM EST
As USD/JPY pushes above the 82.82 high during the 12/12 European-US session, before the FOMC decision, it is in a bullish stance.
FOMC, Bernanke: The FOMC is scheduled to give a statement at 12:45PM EST, after which Bernanke will hold a press conference at 2:15PM EST.
If there is a more clear upside breakout after the risk events, USD/JPY continues a bullish trend since almost the 77.00 handle in September, which has the 2012-high of 84.19 in sight. A break below 82.20 suggests more consolidation, and a break below 81.65 would be a sign of bearish correction ahead.