By Peter Stoneham — Apr 17 - 04:35 AM
USD/JPY steady to softer just below 154.79 Tues trend high
Resistance and offers pre-155.00 on Japanese exporter offers, option defense
Massive option barriers presumed at 155.00, stops above very large
Vanilla expiries today: large at 153.00, 153.50 and 155.00
Some USD longs touted to be looking to book some profits ahead of 155.00
On a deeper pullback: minimum correction of 146.48-154.79 is 152.83
Initial support at 153.90, Tues low point
Caution on possible MoF moves: intervention threat nL2N3GQ04H
For more click on FXBUZ
Source:
Refinitiv IFR Research/Market Commentary