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Oct 09 - 06:55 AM

USD/JPY - The USD/JPY Outlook According To FX And Option Positioning

By Richard Pace  —  Oct 09 - 05:35 AM
  • Talk of more USD/JPY offers added above 150.00 over recent sessions

  • Hoping last weeks drop from 150.16 now dampens demand above 150.00

  • Option traders placing barriers/triggers at 152.00, some at 151.00

  • They will benefit holders if levels not touched through various expiry dates

  • Spot traders would buy USD/JPY post FX intervention, but not a policy change

  • Option markets not complacent about intervention - bought downside strikes

  • Watch for any option implied volatility setbacks - already off recent highs

  • That would suggest a perception that realised volatility will be contained

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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