There are a couple of significant expiries to take note of on the day, as highlighted in bold.
The first ones being for USD/JPY at the 143.85 and 144.00 levels. It looks like flows are returning quickly to markets upon the new year and with the pair racing higher in the last two days, the expiries above may keep a lid on gains before rolling off later in the day. That being said, buyers have pushed past the 200-day moving average of 143.17 and that is helping to give the latest upside push more oomph at the moment.
The next one is for AUD/USD at the 0.6755 level. It isn’t one that has any technical significance whatsoever but it could act as a bit of a magnet for price action before rolling off later today. However, the overall risk mood now is the bigger driver in my opinion so that matters more to how the aussie is going to trade in the day ahead.
For more information on how to use this data, you may refer to this post here.
