USD/JPY gets pulled towards the 150.00 mark on the day

<p>After the quick dip yesterday <a href="https://www.forexlive.com/news/quick-move-lower-in-usdjpy-20231026/" target="_blank" rel="follow">here</a>, the pair has been consolidating a fair bit but have slowly moved lower since the end of the Tokyo session earlier today. The pull factor? I would say it is to do with the extremely large set of option expiries at the 150.00 mark as noted <a href="https://www.forexlive.com/Orders/fx-option-expiries-for-27-october-10am-new-york-cut-20231027/" target="_blank" rel="follow">here</a> earlier.</p><p>That will keep price action glued closer towards the key technical level before the expiries roll off later today. But as mentioned in this post <a href="https://www.forexlive.com/news/major-currencies-little-changed-amid-a-more-mixed-market-mood-20231027/" target="_blank" rel="follow">here</a>, there are also many other moving parts at play today before the weekend.</p><p>Those will be key factors to be mindful about later on but for now, it looks like we should see USD/JPY get stuck in around the 150.00 mark until we get to US trading at least.</p><p>If buyers cannot follow through on a break above that before the week ends, I'm afraid we could see a steeper drop in the pair come next week as speculative bets fall off the wagon amid the exhaustion in recent weeks.</p>

This article was written by Justin Low at www.forexlive.com.