USDJPY has had a notably quiet session since late European morning 23 March
Understandably a little fatigued as we all are with the countless talking heads on trade USDJPY has decided to sit down for a breather and head away for the week-end after its Asian trip to 104.65 lows.
105.00-20 covers it for a few hours now with USD generally not knowing where it wants to go and risk plays carrying less clout today. Earlier I highlighted decent offers between 105.20-30 and so it’s proved.
Year-end repatriation for Japanese companies will be coming to an end this month but with trade wars and wobbly equities still very much in play I don’t see too much of a bounce just yet.
Option interest on Monday at 106.00 should help to cap should we get any where near and 104.00 barrier option provides support.
I remain a rally seller as I have been for many months now as regular readers, and those who read to the bottom of my posts, will know.
I’m out of here now so I’ll wish you good trading and a great weekend. See you all back here Monday and remember,