Comes in better at 53.2 vs 51.5 estimate
The USDJPY has moved above the 104.00 level after the better than expected PMI data. As pointed out by Ryan/Mike there is a 10 AM ET option expire at 104.00. Option sellers (if that is the dominant position) would want to see the price settle at the strike price to maximize the return as at the strike price the options expire worthless. The price is trading at 104.15 currently. So that may lead to some nervous times for option call sellers as they are now in the money – for the buyers that is. The sellers feel the pain.