The 1.4500 exotic option trigger is under threat unexpectedly as the FOMC gave the market what it expected. Heavy selling by a big German bank has surprised the market and sent intraday longs scrambling for cover while incenting options-players to try and knock-out the barriers. We’ve reached 1.4508 so far.
USD/JPY has traded up close to 90.00, stalling at 89.98. Offers are seen through 90.10 above which stops are eyed. 90.70 is further resistance.
Traders report large offers at 90.00 with almost $250 mln to go.
