I’m told that there are some sizeable options due to expire tonight in EUR/JPY at 105.50 and also at 105.00 and that the market may start to gravitate towards them as the day unfolds. It is after all risk-off Friday which will also pressure the JPY crosses.
Heavy stops are reported below 1.2650 in EUR/USD and below 83.30 in USD/JPY, all of which suggests that the main risk today in EUR/JPY is to the downside.
Hourly support is at 105.95 and resistance at 106.85.
