USD/JPY expected to gravitate towards 100.00

There are some large option expiries at 10am NY cut and this will be followed 1 hour later by the asset manager rebalancing. Most dealers expect these events to weigh on USD/JPY as the session develops in Europe. I don’t see much value in chasing it lower with the market already short, preferring to sell near 101.20.

  1. Good evening Sean,

    I like your view on EUR/USD. This context, reminds me on the last November. The market were short on EUR/USD and when the bads news have been stopped, we have gained +600 pips. Today, it seems that we have this context :

    – EUR/GBP : bullish above .8635
    – EUR/JPY : bullish bias
    – EUR/CHF : bullish bias
    – EUR/AUD : bullish bias
    – You mentioned that the banks seems to want some EUROS (solids demands)

    However the technical view on EUR/USD is not so clear to jump in right now. Since February, we have this range [1.3200-1.2800].

    …My conclusion : we have to wait but as usual maybe you have more clues than me ? 😉

  2. Agree Papillon, maybe a case of buying smalls and seeing what happens? Cable might also be a good buy with neckline at 15150 now from dbl bottom

  3. Thanks Sean, yes I noted yesterday the double bottom and the neckline at 1.5150 on the cable but I haven’t a feeling on this cross for now 🙁

  4. Hi Mike, EUR/CHF looks reasonably strong for now with support holding near 12400. USD/CHF looks bit soft and though I’m still in buy-dip camp, we may see a biggish dip, especially if USD/JPY keeps getting hit

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