January 31, 2025 at 06:21AM
There are a couple to take note of on the board for the day, as highlighted in bold.
The first being for EUR/USD at the 1.0400 level. The expiries should act as a defensive layer for topside price action, at least for European trading before rolling off later. That being said, dollar dynamics remain firmly in play so be wary of Trump headlines that could swing things later in the day.
Then, there is one for USD/JPY at the 155.00 level. The pair has been flirting with a drop below 155.00 but failing to find too much momentum this week. Support from the 50.0 Fib retracement level of the swing higher in December is seen at 153.75 and that is still holding the line.
As for the expiries at the figure level today, they will sit close to the 100-hour moving average of 154.96 currently. That could play a role in terms of limiting upside in European morning trade at least.
Then lastly, there is one for USD/CAD at the 1.4500 level. The pair has found it tough to catch a firm break above that, even after Trump’s tariffs threat overnight here. Is it all a bluff though? That’s something to consider but a topic for a different thread.
For now, the expiries might just hold price action at bay amid a calmer mood in broader markets as well. But at this stage, headlines talk when it comes to USD/CAD.
For more information on how to use this data, you may refer to this post here.
This article was written by Justin Low at www.forexlive.com.
