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Jan 04 - 05:55 AM

USD/JPY - Talk Of Stops Tripped And More Above 115.85

By Peter Stoneham  —  Jan 04 - 03:42 AM
  • USD/JPY's sharp climb to 115.81 brings talk of stop loss action

  • Also talk of more stop loss orders above 115.85 and 116.00

  • The rally to a five-year high also brings large option deals into play

  • USD 997 mln 115.50-60 and USD 1.13 bln 116.50 strikes roll off today

  • Rising U.S. yields underpinning USD/JPY but some cooling noted early Tues

  • However, technically the yen could be in trouble

  • Resistance levels thin out above 116.00 all the way to 1998 highs at 147.64

    For more click on FXBUZ






USD/JPY daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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