Posted this earlier:
Selling at and ahead of 100.00, option related interest. And, yes, its very large indeed. All around the market is the news that CitiFX Wire are saying the offers are joined by ‘real money’ selling. That’s market jargon for Japanese exporters in this instance. Yeah, they’re selling USD, too. Above 100 the stops are building (not surprisingly).
Closer in, 99.50/60/70 is trader offers.
Below current levels there are bids lined up 99.00/10/20.
Just wanted to update it with more orders being seen now around 99.00, buy orders from option players:
- Buy orders (profit-takes) from those sellers ahead of 100.00
- But also fresh buying ahead of 99.00
- Stop loss sellers below 98.85
It looks very much like 99-100 could hold the range for today into Europe.
