USD/JPY: Risk reversal snaps two-day downtrend

One-month risk reversals on USD/JPY, a gauge of calls to puts, rose for the first time in three days on Tuesday, per data provided by Reuters.

The +0.037 figure suggests increasing bullish bets (call options) versus the bearish mood (put options) of the market players.

That said, the currency pair is trading around 109.50, down 0.03% intraday at the press time, after rising for the first time in three days on Tuesday.

Given the pair’s consolidation of Friday’s pullback from early April highs, upbeat option market data can help the bulls. Also on the positive side could be the US dollar’s run-up, backed by the safe-haven demand.

Technically, USD/JPY wobbles around the yearly rising trend line following its bounce off 50-day SMA level near 109.15.

Read: USD/JPY looks to extend gains above 109.50 amid USD rebound