JPY futures: direction remains unclear

Pablo Piovano FXStreet

CME Group’s preliminary data for JPY futures markets noted open interest rose for the sixth session in a row on Thursday, now by more than 1K contracts. On the other hand, volume resumed the downside and shrunk by nearly 86.7K contracts.

USD/JPY likely to go nowhere from here

Price action around USD/JPY is expected to keep the current sideline theme amidst rising open interest and choppy/negative activity in volume. However, further bouts of weakness in spot should not be ruled out in light of the fragile context surrounding the US-China trade conflict.

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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