We had a nice bounce from trendline support in USD/JPY last evening, rallying from 82.33 to 82.95 before the rally sputtered. We’ve drifted lower again and just edged below the uptrend (now at 82.46, before rebounding again.
Traders note a 82.50 options expiry at 10 am NY time time this morning which could keep price action muted near-term.
Stops are eyed now below yesterday afternoon’s low, clustered just below 82.30, we’re told.
