USD/JPY fell to a low of 81.40 in the twilight zone after a barrier option at 81.50 was breached and stops triggered just below. It has now regained all of those losses, currently sitting just below 82.00 which is near it’s NY closing level.
Dealers say that sell orders are grouped just above 82.50 so barring any BOJ intervention, we can expect some range trading inside this 81.50/82.50 range. Remember that it is a US holiday on Monday and that will also impact on volatility.
