USD/JPY firming again
Bids in the 82.00/10 zone (today’s low 82.06) have held firm during a US name sell-off in EUR/JPY, and the strong German IFO led a quick retreat for the EUR/JPY bears, which has led the USD/JPY back towards the upper end of the day’s trading range.
That said the going’s likely to be slow on the upside, but we could see some magnetism towards a largish (300 mio) 82.50 strike rolling off today at the NY cut. Offers increase in size above from around 82.80, from exporters and option related names, ahead of an 83.00 barrier.
EUR/JPY back again above 106.00 and heading back to wards Asian highs of 106.33. Offers are seen into yesterday’s 106.59 high ahead of the 100 day MA at 106.74, and a barrier at 107.00.
USD’s at 82.33 with the cross around 106.20