JPY Futures: further pullbacks on the cards
|Open interest in JPY futures markets went up by nearly 10.9K contracts on Wednesday, reversing four consecutive drops, according to flash data from CME Group. Volume, too, increased by around 45.3K contracts, reaching the second straight build.
USD/JPY now targets 109.31, August peak
The renewed upbeat tone in the riskier assets has been fuelling the selling bias in the Japanese safe haven amidst increasing volume and open interest in the futures markets. This scenario keeps pointing to the continuation of the upside bias in USD/JPY for the time being, with the 109.30 region emerging as the next target.
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.