After the quick dip yesterday here, the pair has been consolidating a fair bit but have slowly moved lower since the end of the Tokyo session earlier today. The pull factor? I would say it is to do with the extremely large set of option expiries at the 150.00 mark as noted here earlier.
That will keep price action glued closer towards the key technical level before the expiries roll off later today. But as mentioned in this post here, there are also many other moving parts at play today before the weekend.
Those will be key factors to be mindful about later on but for now, it looks like we should see USD/JPY get stuck in around the 150.00 mark until we get to US trading at least.
If buyers cannot follow through on a break above that before the week ends, I'm afraid we could see a steeper drop in the pair come next week as speculative bets fall off the wagon amid the exhaustion in recent weeks.
