I think, it´s correct to assume that JPY Futures will open with a gap today after the clever guy in the White House has just announced an additional lawyer of tariffs on China. Well, let´s see.
Here comes one of these situations: China-US negotiations ongoing and fluid. Several gaps now open. Although I see Japanese YEN being bid, there might be chance of closing the gap at .0.90315 before moving significantly higher. I will play this scenario with some protective puts.
Seems, protective puts have been a clever idea ;=) Anyway, I expect a last gap closing move in JPY Futures before the real sell off starts - maybe in August/September when the FED will start to cut rates again! So, does anyone here understands a thing or two about dynamic hedging strategies?