It has been a quiet start to the session, with little news hitting the wires; USD/JPY has however, run into resistance again (and there is more selling to be done ahead of 99.00 … but I get ahead of myself). Orderboard:
- Offers 99.00 (stops building above). Barrier-option related seller here too.
- Offers ahead of 99.00 also, with some stops above 98.85 mingled with the sellers
- Short-term support zone 98.40/50
- Bids 97.95/98.05
(Insert almost obligatory reminder that ‘all eyes on the Nikkei’) <– Of course, not joking about this, watch the Nikkei again today, moves here have been pushing and pulling USD/JPY for weeks now.
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Just as an aside, the AUD is being bought with the market looking for stops above 0.9050. Plenty of selling to be done layered higher from here if we pop above 0.9050, though.
