Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

USD/JPY flirts with 107.00 handle, risk reversals shed JPY call bias

  • Risk reversals show demand for JPY calls (bullish bets) is falling.
  • Eyes Powell testimony

The USD/JPY pair's recovery from 106.38 yesterday has left a higher low on the daily chart, indicating a short-term bottom has been made at 105.55 (Feb. 16 low).

Further, the one-month 25 delta risk reversals (JPY1MRR) gauge indicates falling demand for JPY calls (buy Yen). As of writing, the risk reversals are being paid at 1.4 JPY calls vs. 2.4 JPY calls seen on Feb. 12. The drop in the JPY volatility premium (from 2.4 to 1.4) indicates JPY bullish bias has weakened.

The technical setup and the activity in the options market clearly indicate the investors believe the new Fed chair Jerome Powell will remain measured in his first testimony (due later today). 

USD/JPY Technical Levels

A convincing move above 107.09 (100-hour MA) would open up upside towards 107.91 (Feb. 21 high + descending trendline drawn from the Jan. 8 high and Feb. 2 high). A violation there would expose 108.28 (Jan. 26 low).

On the downside, breach of support at 106.38 (Feb. 26 low) could yield a sell-off to 106.03 (Feb. 15 low) and105.55 (recent low).

 

AUDNZD climbs following disappointing NZ trade figures, 1.08 eyed

AUD/NZD has lifted in the Asia session, trying to capture further ground and currently trading just above 1.0770. The Aussie is gaining following a m
Read more Previous

IMF maintains January forecast of 3.9 pct global growth for 2018 and 2019

Comments from the International Monetary Fund (IMF) head Christine Lagarde are crossing the wires via Reuters- IMG maintains January forecast of 3.
Read more Next