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Oct 03 - 08:36 AM
USD/JPY - Options Target Deeper Declines, But Bears Be Wary!
First appeared on eFXplus on Oct 03 - 06:50 AM
  • USD/JPY options positioned for a spot setback for weeks nL2N26A07B

  • Coming to fruition now amid haven demand, growth woes, USD weakness

  • 1-month implied vol new 4-week high 7.0 Wednesday nL2N26N0DU, now 7.2

  • Renewed demand for low strike USD/JPY options today, downside protection

  • Buyers 2-week 106.50-00 and a 1-month 105 JPY calls bought amongst others

  • However, JPY bulls should beware China/US trade talks next week

  • Any interim deal would boost risk and USD/JPY, press back on option premium


USDJPY option vol: Click here

USD/JPY risk reversals: Click here

Source:
Refinitiv IFR Research/Market Commentary

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