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May 31 - 07:55 AM

USD/JPY - Topside Risk - According To FX Options

By Richard Pace  —  May 31 - 05:53 AM
  • USD/JPY reached 110.20 Friday - helped by month end demand, higher UST

  • Those supports now passed, profit taking noted, offers left low 110's

  • Option implied volatility stays low, no additional premium for topside

  • Outright buyers of topside protection above mid 110's has been light, too

  • Suggests a lack of conviction that USD/JPY will continue latest rally

  • 109.93-64 Monday's range on EBS, support at 10-21-dma 109.19-16

  • Beware mid June daily cloud twist attraction sub 109.00 nL3N2NI1V9

  • U.S. data/NFP volatility risk can favour short dated options nL2N2NI0DE

For more click on FXBUZ


USD/JPY 1-month 25 delta risk reversals Click here

JPY=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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