15 Nov 2013
USD/JPY well bid post Tokyo fix, 100.30 new month high
FXstreet.com (Barcelona) - USD/JPY has been expanding higher into the first few hours of Tokyo trading, with the Nikkei - up by more than 1% - providing support to the pair, which trades at new monthly highs above 100.00, highest at 100.30
Optionalities, Nikkei on focus
USD/JPY has been extremely wel bid into and post the Tokyo fix by both Gotobi and pre-weekend demand. According to Haruya Ida, Analyst at IFR Markets: "Option player bids also tipped from around 100.00, trail down... heavy slate of downside vanilla option expirations cited." The next upside hurdle is eyed at 100.50, where some options-related interest is found.
USD/JPY hint at further upside
Jim Langlands, Founder at FXCharts, notes a technical credible evidence that we are headed towards a test of the September 100.60 high, "beyond which the targets would be 101.52 (8 July) and then 103.73 (22 May high)" Jim said. "If the correlation between the Nikkei and the Yen is anything to go by, we can expect the yen to remain under pressure" he added.
Optionalities, Nikkei on focus
USD/JPY has been extremely wel bid into and post the Tokyo fix by both Gotobi and pre-weekend demand. According to Haruya Ida, Analyst at IFR Markets: "Option player bids also tipped from around 100.00, trail down... heavy slate of downside vanilla option expirations cited." The next upside hurdle is eyed at 100.50, where some options-related interest is found.
USD/JPY hint at further upside
Jim Langlands, Founder at FXCharts, notes a technical credible evidence that we are headed towards a test of the September 100.60 high, "beyond which the targets would be 101.52 (8 July) and then 103.73 (22 May high)" Jim said. "If the correlation between the Nikkei and the Yen is anything to go by, we can expect the yen to remain under pressure" he added.