USD/JPY: Plenty of buyers, stop-loss sellers, and option levels
It will not be one-way traffic in the USD/JPY in either direction, with very large interest seen both sides of the market.
- Bids are reportedly large and at regular intervals on the approach to 100.00.
- Stop-loss sell orders below 99.80 are even bigger, according to Prime Brokerage reports.
- Option interest at 100.00 and at 104.00 remains very significant.
Sounds like a perfect recipe for some volatile range trading.