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Oct 09 - 07:55 AM

USD/JPY - May Be Ripe For Selling After Massive Options Expire

By Richard Pace  —  Oct 09 - 05:55 AM
  • USD/JPY trades 106.05-105.81 Friday. Thur-Wed 106.11 double top caps

  • Daily cloud top 106.17 - no close above daily cloud since mid June

  • Dealers note local flows more inclined to sell than buy USD/JPY now

  • Could be a precursor to a setback, certainly reinforcing the topside

  • Big sell orders were touted up to 100-dma 106.51, may start to lower

  • Break below 55-dma 105.75 could prompt more selling on that basis

  • Massive FX option expiries and related hedging play their part Friday

  • $4-billion 105.80-106.25 nL1N2H0070, free's shackles post 10-am NY expiry



JPY=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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