JPY Futures: weekly low in place?
|In light of flash data for JPY futures markets from CME Group, open interest shrunk by around 2.8K contracts on Thursday, reversing two daily builds. In the same line, volume extended the decline for another session, now by around 19.1K contracts.
USD/JPY met resistance around 108.00
Open interest and volume in the Japanese safe haven retreated amidst the recent decline in prices, allowing for some reversion in the trend in the near term. That said, the area around 108.00 is expected to offer a tough hurdle for USD/JPY, at least in the short-term horizon.
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