Derived Data That Drive Results
By Richard Pace — Apr 15 - 03:50 AM
USD/JPY gains to new 3 year highs above 152.00 failed to ignite intervention
USD/JPY since testing 154.00 and brings a key level in to view
155.00 said to hold very big exotic options barriers, more short gamma above
Talk among bigger banks that 155.00 is the true BoJ line in the sand
Option pricing poised for intervention, big vol premium for downside strikes
Another level to watch is 153.00 - a $6-billion option expiry here Thursday
If USD/JPY edges lower, related hedging can attract/contain spot to 153.00
For more click on FXBUZ
USDJPY 1-month FXO 25 delta risk reversals Click here
6-billion USD of 153.00 option strikes expire Thursday Click here
Source:
Refinitiv IFR Research/Market Commentary
