USDJPY buyers keep coming back for more after being slapped back from 124.50
It's barrier city in this pair at the moment and the closest one at 124.50 is putting up a better fight than the ones that fell before it. Stops are in place on a break
Mike noted strong sell orders at 124.80 this morning, and there are big stops building behind that too. It's deja vu from yesterday and the 123.50/80 area
More large offers, barriers and stops are seen at 125.00 and 125.50 and particular attention is being paid to a large June 22nd option expiry of $3.24bn. There's also $3.47bn going off at 120.00 the same day (both are mainly USD calls). The market has put some focus on these expiries as the barriers expire on that date
USDJPY June 22nd option expiries
The order board is pretty light on the buy side with 123.00 and 122.75 the main places bids have entered
