There is arguably just one to take note of on the day, as highlighted in bold below.
There is arguably just one to take note of on the day, as highlighted in bold below. That being for USD/JPY at the 161.00 level.
It doesn’t tie to any technical significance and now with the pair breaking the 160.00 mark, it’s clear skies up ahead; barring Tokyo intervention that is. That is the only thing likely to keep a lid on USD/JPY price action and so I wouldn’t attach too much significance to the expiries above. However, just be mindful that figure levels from hereon will take on more of a psychological importance.
Think of it as every break of a figure level above 160.00 as being a domino piece that falls. And with each falling piece, it will thin the patience of Tokyo officials to step in and intervene to prop up the yen currency. So, there is that bit of danger that could help exert some added influence from the expiry level above.