The pair is trying to make a clean break up through 105.50 pivot area 22 March
Currently 105.56 it's just failed above 105.60 so still making its mind up as trade tariff concerns still play out.
Lows so far of 105.26 and with the barrier option at 105.00 that I've been highlighting helping to stem further falls after the latest yen-demand drop.
I'd expect to see support/demand prevail down there for the moment but the option apparently comes off tomorrow so sellers might be encouraged by that and put a cap in place into 106.00 should we rally that far. Option expiry interest there might prove a magnet but I'm still a rally seller.
USDJPY
Some general USD demand also playing out as I type and that's capping core pairs. GBPUSD support at 1.4100 a possible target as is 1.2300 for EURUSD now the option interest is out the way, until tomorrow at least. Similarly though if USDJPY can find a bit of love from here then yen pair demand could help underpin core pairs. All delicately poised.
USDCHF held 0.9460 and now 0.9487. Hello SNB?
USDCHF
