USD/JPY still hovering as Fed policy decision draws closer

Compared to earlier this morning, the USD/JPY is holding the upper ground, as the markets await the Fed monetary policy decision, at 6pm GMT. For the past 4-5 hours the dollar has been trading a range defined 141.70 to 142.10. Of course that range is almost certain to get busted when the Fed announces their decision. The markets are still skewed on the side of a 0.50% rate cut, but as stated here earlier today, if that is the case, then why is the USD/JPY not lower? Well, maybe 0.50% is priced in around these levels? That is a matter of opinion mostly, but whatever transpires this evening, as warned earlier, we are going to see some price action in the next 30 minutes or so. The USD/JPY is currently trading at 141.89