JPY Futures: extra downside on the cards
|Open interest in JPY futures markets rose for the second session in a row at the beginning of the week, this time by around 1.2K contracts, according to flash data from CME Group. On the other hand, volume prolonged the choppy performance and shrunk by around 54.8K contracts.
USD/JPY next target at 108.50
USD/JPY is extending the march north backed by the better tone in the riskier assets. The move is accompanied by rising open interest, which should add to the ongoing upside momentum and push spot to the key resistance area in the mid-108.00s in the short-term horizon. The moderate contraction in volume, however, could slow down the pace of the expected uptick.
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.