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Jul 30 - 08:55 AM

USD/JPY - CORRECTED-BUZZ-FX Traders Not Sure About USD/JPY As BOJ And Fed Meetings Loom

By Martin Miller  —  Jul 30 - 06:35 AM

Corrected "above" to "about" in title

  • Dollar, yen braces for looming BOJ, Fed meetings nL1N3JM02K

  • USD/JPY daily technical chart is quite bearish nL1N3JM0BT

  • USD/JPY has risen from 153.62 to 155.22, on Tuesday, EBS data shows

  • Massive option strikes set to expire at the NY cut nL1N3JM07A

  • Therefore, option related hedging flows could limit spot ahead of expiry

  • Note EUR/JPY continues to move in tandem with USD/JPY, correlation is high

Source:
Refinitiv IFR Research/Market Commentary

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