As has been the case all the way up in USD/JPY there is barrier option-related selling ahead of 101.00.Some of these have been little more than speed bumps, but the 100 level held for weeks.
I don’t know how strong the interest is at 101 today. There is USD demand going into the fix at 0050GMT, so if we haven’t seen 101 by then there is a good possibility of a pullback.
Bids 100.40/50 are good size, also 100.30 and around (talk is China on the bid there)
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