Currency markets are watching closely as EUR/USD faces option expiries at 1.1700 and 1.1750, providing potential boundaries for price action. Meanwhile, traders anticipate whether USD/JPY can break above the 150.00 mark, spurred by the latest political developments in Japan.

With critical FX option expiries hovering between 1.1590-00 and 1.1675-80, EUR/USD may find itself constrained. Yet, investors remain alert for surprises from global bond yields, which could quickly challenge this cautious calm in the forex market.