USD/JPY: More stops now being reported above 100.00
I think we all presumed that they were there but some of the big banks are confirming this now. The main buyers through 100.00 will be option players readjusting their hedges. Those in the know say that we shouldn’t expect any decent topside offers until 100.50.
If anything is going to happen today then it will most likely come through USD/JPY I feel.