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Apr 02 - 07:55 AM

USD/JPY - Intervention Threat Caps USD/JPY Below Barriers And Short Gamma

By Richard Pace  —  Apr 02 - 05:50 AM
  • USD gains keep USD/JPY close to recent and multi decade highs near 152.00

  • 151.50-80 Tuesday's range, 34 year high at 151.975 last Wednesday

  • Short option gamma positioning could still accelerate any break above 152.00

  • However, intervention threat after tri-party meeting last week, limits gains

  • Some of the 152.00 option barriers capping price said to expire this week

  • Friday's U.S. data is a big risk to USD/JPY ahead of U.S. CPI next Wednesday

  • Strong numbers to boost USD and put more pressure on 152.00 if still intact

  • Big option expiries nearby, intervention would bring mega strike in to focus

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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