JPY Futures: Bullish with caution
|CME Group’s advanced figures for JPY futures markets showed open interest shrunk by just 505 contracts on Thursday, partially reversing the previous drop. Volume, instead, advanced for the second session in a row, this time by nearly 31.2K contracts.
USD/JPY could still return to the area above 110.00
USD/JPY has returned to sub-110.00 levels on the back of rising fears on the COVID-19 in past hours. Shrinking open interest coupled with positive performance in the Japanese safe haven warns against the extension of any correction lower, although the uptick in volume suggests some consolidation could be in the pipeline.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.