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May 23 - 08:55 AM

USD/JPY - Choppy Session But Yen Edges Ahead

By Peter Stoneham  —  May 23 - 07:05 AM
  • A choppy session so far for USD/JPY: 128.05-127.16 in Asia

  • Exporter, option-related, offshore fund and day-trader sales

  • Recovery to 127.93 into Europe and fresh loses to 127.36

  • Talk of stops sub-127.00 and further exporter interest touted

  • Uptick in US yields helped: Treasury 10s from 2.797% to 2.848%

  • Market still seen heavy 128.00+, massive option expiries above

  • Today to see $2.8 bln between 128.00-25 strikes, more above

    For more click on FXBUZ









USD/JPY daily candle chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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