USD/JPY TRACES UPBEAT OPTIONS MARKET SIGNALS TO REGAIN 130.00
USD/JPY takes the bids to refresh intraday high near 130.00 during early Monday in Europe as buyers keep the reins after taking positions at the eight-month low in the last week.
In doing so, the Yen pair traces upbeat signals from the options market to lure buyers. That said, the one-month risk reversal (RR), the gauge of call options versus the put options, prints the strongest RR figures since late October 2022.
That said, the one-month RR rose to the 0.820 level on the weekly basis at the latest, testing the highest bullish level since October 28, 2022. On the daily format, the RR printed mild gains around 0.185.
Hence, the major options market players are bullish on the USD/JPY prices even if the pair is yet to portray a confirmatory rebound from the multi-day top.
Also read: USD/JPY bears eye 129.00 on BoJ Minutes, focus on US GDP, Tokyo inflation
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