We're seeing some USDJPY demand and EURUSD supply prevail again 12 April

It would be rude of me to leave without mentioning the clock ticking down to the 14.00 GMT expiry time.

USDJPY now posting session/recent highs of 107.43 with large option interest around 107.00 and better risk sentiment helping to underpin earlier and now finding extra support from general USD sales.Yen pairs at session highs too and that's helping to lend a little support to core pairs.

I've been a USDJPY rally seller for many months now as regular readers will know and I reckon this 107.50 area could present decent risk/reward opportunity but it's not just a USD play . Caution advised but should present some value.

EURUSD testing 1.2300 with large option interest at 1.2300-10 rolling off at the top of the hour. AUDUSD has large interest nearby too and containing moves.

Believe in the power of these or not but ignore at your peril.

Remember these are vanilla options and in play right up until expiry even if breached in the meantime unlike barrier options which cease to be once broken.

For more info on how to use this all data, please refer to my post here