Hit the pause button, not sure about rewind ...

Been told that the options markets are pricing an October or December interest rate hike, after the FOMC and Yellen.

As expected, traders are closing out long-held "long" positions on the dollars, across the board.  Markets have basically hit the pause button as long-tern sentiment is still bullish the dollars.

However, for the moment the market needs to correct and the dollar yen looks good here.

I'll look to short if the price closes below 112.28 tonight.