JPY Futures: Further gains looks unlikely
|According to flash data for JPY futures markets from CME Group, open interest reversed two consecutive builds and shrunk by nearly 1.6K contracts on Thursday. On the opposite side, volume increased by almost 44K contracts following two straight drops.
USD/JPY faces support around the 200-day SMA
The pullback in USD/JPY was accompanied by declining open interest in the Japanese safe haven, hinting at the likeliness that gains are losing some traction. That said, the key 200-day SMA at 108.30 is expected to hold the downside for the time being.
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.