JPY Futures: bearish/neutral near term

Pablo Piovano FXStreet

According to advanced figures from CME Group for JPY futures markets, open interest increased by around 1.5K contracts on Monday, reversing the previous drop. Volume, instead, dropped for the second day in a row, this time by nearly 35.7K contracts.

USD/JPY scope for extra gains

USD/JPY has regained the 108.00 mark and above on the back of rising open interest amidst declining prices in JPY. That said, there is still room for the continuation of the uptrend in spot, although shrinking volume could remove some tailwinds from the upside.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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