Barriers at 83.00 capping USD/JPY

Author: Adam Button | Category: News

USD/JPY stalled overnight at 82.95 but has remained close to that level in the subsequent hours.

There is chatter about a big block of 83.00 barriers that expire on Friday.

The incentive to hold the line at the moment is hope that Bernanke will print more or be dovish. If the Fed underwhelms and 83.00 breaks it could set off a frenzy of buying.