JPY futures: downside could be losing momentum

Flash data for JPY futures markets from CME Group noted open interest declined for the third session in a row, this time by nearly 1.3K contracts on Monday from Friday’s final 188,278 contracts. On the other hand, volume reverted the previous drop and rose by almost 17.2K contracts.

USD/JPY faces strong resistance at 200-day SMA near 111.30

USD/JPY managed to surpass the psychological 110.00 handle on a convincing fashion amidst erratic activity in volume and a persistent drop in open interest. That said, while further upside in spot is not ruled out, the continuous retreat in open interest could remove some tailwinds from the up move and provoke failure.

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.