USD/JPY traces upbeat options market signals to regain 130.00

Anil Panchal FXStreet

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

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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