This is why we watch the options
Big expiries in USDJPY and USDCAD and the price has moved right into them.
It doesn’t happen often like this but when the conditions are ripe, this is what can happen.
Update 15.02: I’m taking a small long in USDJPY here at 112.23 and will add a bit more against the support near 112.00. If this is just option related then we may see a bounce back to levels before the options players took over.
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