That being for USD/JPY at the 159.00 level. But as mentioned before with expiries for the currency pair, it is all about intervention risks right now.

The psychological game is what is dictating the narrative for USD/JPY and that isn’t going to change this week. Sure, the dollar is on the softer side and may be running into a bit of trouble as noted here. However, the yen’s plight is also still being prolonged amid a lack of change in the fundamental drivers.

So among all dollar pairs, USD/JPY is one that is least likely to benefit from any dollar pullbacks.

While buyers are continuing to poke and prod, they aren’t going too far to pushing the agenda in testing waters near the 160 level. That remains the key psychological barrier at this stage, where Tokyo and perhaps US officials may feel more compelled to step into the market again.

As such, we’re seeing price action keep around the 159 level for almost a week already. The near-term limit appears to be around 159.50 before buyers step back but they seem willing to be dipping their toes in the water again around 158.50-70. The 200-hour moving average at 158.71 will be a key near-term level to be mindful of just in case.

Taking everything above into consideration, the expiries today may not be all too much of a factor for USD/JPY besides offering the potential of a minor pull influence.

Besides that, major currencies will be eyeing dollar sentiment as the more important driver of price movements for the session ahead.

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