JPY Futures: Further appreciation likely
|Open interest in JPY futures markets from CME Group rose by just 877 contracts on Tuesday, reversing three consecutive pullbacks according to flash data from CME Group. In the same line, volume increased by almost 9.8K contracts after two drops in a row.
USD/JPY: Door open for a move to 107.00
USD/JPY remains on the defensive so far this week against the backdrop of increasing open interest and volume in the Japanese safe haven. That said, further upside in the yen is likely, allowing for a potential move to the 107.00 neighbourhood in the hear term.
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.