JPY Futures: Rebound seen limited
|CME Group’s advanced data showed open interest and volume shrinking by around 4.6K contracts and nearly 35.3K contracts, respectively, on Friday.
USD/JPY faces strong support in the mid-108.00s
Friday’s move down in USD/JPY was in tandem with diminishing open interest and volume in the Japanese safe haven. That said, while the leg lower could extend to the 108.50 area – where sits the 200-day SMA – there is still scope for a rebound 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.