USDJPY orders 22 March - In retreat again but ranging still

Currently 105.71 having found demand into 105.50 yet again

Yesterday's option expiry-related support between 106.00-30 provided a nice platform for the FOMC knee-jerk rally but sellers were waiting as I've been highlighting for a while now.

All in all we're still ranging despite all the noise so play it as such.

I still prefer jobbing from the USDJPY rally-sell/yen-long side and ofc enjoyed the post-FOMC opportunities. Taken money off the table down here but happy to keep a core short position for the moment. Look to re-sell 106.00-30 initially.

Offers: 105.85 106.00 106.20 106.50 106.65 106.80 106.95-00

Bids: 105.50-55 105.30 105.00 104.85 104.65 104.50 104.20 104.00