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May 27 - 08:55 AM

USD/JPY - More Large FX Option Strike Expiry Hedging Pins USD/JPY

By Richard Pace  —  May 27 - 06:10 AM
  • USD/JPY pinned to 157.00 by massive FX option strike expiry hedging Friday

  • There's another $1.5-billion 157.00 expiring at 10-am New York Monday

  • USD/JPY trades 156.67-157.01 range (EBS) amid UK/U.S. thinned trade

  • Thursday's 156.53-157.19 range is initial support/resistance

  • 157.19 is post intervention recovery high and buyers will be wary of more

  • Setbacks to remain limited amid resilient U.S. economy, slow U.S. rate cuts

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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