FX option expiries for 16 January 10am New York cut

Today, there are notable FX option expiries to pay attention to. For EUR/USD, a notable expiry is at the 1.1600 level. While not the largest, it could still influence price action. Additionally, a downside test towards the 200-day moving average at 1.1582 could occur. A break below 1.1600 may open up movements towards the next support level at 1.1500. On the other hand, for USD/JPY, there is an expiry at the 158.00 level. There is a recent shift in bias for this pair, and the expiries may limit downside action, especially during the European trading hours. However, any verbal interventions from Tokyo officials could significantly affect price movements, so caution is advised. Looking to next week, there appears to be little interest in expiries due to the Martin Luther King Jr. Day holiday in the US, which is expected to lead to a quieter trading environment. Notably, however, there is a large expiry for EUR/USD at 1.1500 that traders should keep an eye on.