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Jan 05 - 05:55 AM

USD/JPY - Poised For Big U.S Vote, Bias Down

By Richard Pace  —  Jan 05 - 05:03 AM
  • Mondays trade confirmed USD/JPY has lost any positive correlation to stocks

  • It's now a USD trade, and should weaken amid broad negative USD consensus

  • USD/JPY 102.82-103.19 before big U.S vote, inside Mon's 102.72-103.31 range

  • Options flag short term volatility risk - U.S vote and NFP nL1N2JG0CL

  • Vote should ultimately leave the USD weak, whatever outcome nL8N2JF3LV

  • Big option barriers/defence at big figures from 102.00, huge at 100.00

  • No rush for USD/JPY options, suggests further spot losses to remain a grind

  • Big AUD/JPY expiry today, huge 104.00 USD/JPY strikes loom nL1N2JG0EL




JPY=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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