JPY futures: further appreciation likely near term
|According to flash data from CME Group for JPY futures markets, open interest and volume shrunk by almost 1.5K contracts and nearly 3K contracts, respectively, on Wednesday.
USD/JPY upside appears limited
The recovery in USD/JPY faces a tough hurdle in the 110.00 area. Declining open interest and volume against the backdrop of falling prices in the Japanese currency could allow for a reversion of the current trend, motivating spot to resume the downside in the short-term horizon.
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.