JPY Futures: remains sidelined near-term
|CME Group’s advanced data for JPY futures markets noted open interest rose for the second consecutive session on Wednesday, now by around 1.4K contracts. Volume, too, reversed the previous drop and increased by around 54.5K contracts.
USD/JPY looks cautious below 109.00
USD/JPY is prolonging the sidelined theme below the 109.00 handle amidst rising open interest and volume and against the backdrop of fading optimism on a trade deal anytime soon. That said, the cautious/neutral bias is expected to persist at least in the short-term, while a move to the 108.00 neighbourhood should surprise no one.
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