FX option expiries for June 8 include EUR/USD at 1.1500 and USD/JPY at 160.00, with traders watching price action and intervention risk.
FX option expiries in EUR/USD
The EUR/USD expiry at 1.1500 is the first to note. The source said it does not line up with any technical level. However, it could still help keep price action above the figure for now.
Bids near that level may work with the expiry. As a result, the pair could find some support during the session. The source also said downside pressure has grown after Friday’s selloff.
Dollar sentiment remains a key driver. Moreover, the source linked that support to a defensive risk mood at the start of the week. It said that mood should help keep the dollar underpinned unless the story changes sharply.
FX option expiries and USD/JPY
The USD/JPY expiry sits at 160.00. The source described it as sizable. Even so, it said the expiry may not have much impact, as noted last week.
Intervention risk remains the main focus for USD/JPY. If the pair moves too far above 160.00, the source said Japan’s ministry of finance may step in. Therefore, the key question is where Japan will draw the line next.
The source said the dollar also remains in a good position since the end of last week. Consequently, it sees the invisible hand as the biggest possible driver of price action, not the expiry itself.
FX option expiries may still matter for the session ahead. However, the source said the EUR/USD expiry could offer a floor, while USD/JPY stays tied to intervention risk.
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