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Jun 11 - 01:55 AM

USD/JPY - Capped By Ichimoku Cloud, Option Sales, Crosses Bid

By Haruya Ida  —  Jun 10 - 11:43 PM

• USD/JPY 144.66-145.15 EBS in Asia, in 144.56-145.59 daily Ichimoku cloud

• Cloud continues to provide resistance, cushion on moves to take it higher

• Dealers also note good option-related sales, on gamma and other plays

• Plenty of expiries today, tomorrow in area, 145.00 $7 bln+ Monday too

• Japanese importer, other demand on dips too leading to narrower ranges

• Tech support from gradually ascending 144.37-73 hourly Ichimoku cloud

• Interest rates not a factor now with US and most JGB yields having steadied

• JPY crosses mostly buoyant with USD less bid against most other majors

• JPY longs at saturation point? EUR and GBP longs to rise? Less CHF shorts?

• EUR/JPY 165.44-81 EBS, highest since 165.96 Nov 7, 166.65 peak then Oct 31

• EUR/JPY to so-so large E471 mln option expiries today at 165.50 strike

• GBP/JPY 195.22-91 and holding at recent highs, 196.44 high yesterday

• AUD/JPY 94.14-74 and still looking to crawl higher

• BOJ expected to hold policy next week but could slow bond-buy taper plans

• Data today showing less wholesale inflation seen giving BOJ policy reprieve

• Related comment , also , on Japan CGPI

• On BOJ , , , on JGBs
USD/JPY hourly:


EUR/JPY hourly:


AUD/JPY hourly:


(Haruya Ida is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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