Shifting sands in USDJPY – Forex options expiries 25 September 2018

Forex option expiries for the 10am (14.00 GMT) New York cut 25 September 2018

What’s standing out on the USDJPY landscape is the fact that the spread of options has been very tight. Pretty much 108/109-112/113 covered both call and put sides but the recent shift up to 113 has left the topside looking very sparse. That may be a temporay situation if the price moves back, and options traders may sit back and wait but if it doesn’t, then we’re going to start seeing fresh trades and hedges coming in to the high side in this pair. We’ve still got those barriers above but not much else right now.

In the meantime, there’s not too much about today but AUDJPY has some size either side of the current price.