USD/JPY found buyers ahead of 104 on Friday and its doing a repeat performance today. The pair is flat on the day at 104.85 after falling as low as 104.15 on the stock market rout in Asia.
Sellers are at the early high of 104.95 with more protecting 105.00. Further offers at 105.30/40 and a rumored option barrier at 105.50. The biggest marker on the options calendar is a $1.7B expiry at 105.00.
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