The first ones are for EUR/USD, layered at the 1.1400 and 1.1450 levels. They don’t quite tie to any technical significance but once again could just act as bookends for price action in the session ahead.

The dollar is a little softer on the day, giving up some of the gains from yesterday. But at the balance, higher Treausry yields will continue to underpin the greenback so there is some counter-balance even if the dollar does drop further from here.

As things stand, US-Iran developments remain the key risk and we’re now starting to see potential for the global energy market disruption to spread to the Red Sea. That will just serve to exacerbate tighter supply conditions and threaten higher prices, which in turn will feed into inflation fears.

Barring any major headline risks, the expiries above should likely keep price action more cagey for EUR/USD before we get to US trading later.

Then, there is one for USD/JPY at the 163.00 level once again. But as mentioned many times before, the expiries here are not likely to factor much into play and/or have any significant impact.

As things stand, it is all about intervention risks when it comes to USD/JPY. And in that regard, traders will also feel a bit nervous in chasing gains too far, too fast above the 163.00 level. That so as to not incur the wrath of Japan’s ministry of finance, in stepping in to shoot the currency pair back down.

While the path of least resistance remains for a move higher even with intervention risks in play, there is still much caution to be warranted in testing the limits of Tokyo officials.

For more information on how to use this data, you may refer to this post here.