Traders report a very large 84.50 options expiry this morning at 14:00 GMT. Until the poor US data, hedging ahead of the expiry had helped USD/JPY carve out an 84.40/60 range. If price action steadies after the poor US data, we may see some options-related demand for USD/JPY over the next 90 minutes with downside potential after the expiry…
USD/JPY trades now at 84.30.
