JPY futures: downside seems limited

Pablo Piovano FXStreet

In light of preliminary figures for JPY futures markets from CME Group, open interest dropped by almost 2.8K contracts on Tuesday vs. Monday’s 256,270 contracts. Volume, instead, increased by around 31.5K contracts after two consecutive builds.

USD/JPY holding on to 113.00

The correction lower in USD/JPY has been so far contained by the 113.00 neighbourhood, where sits the 21-day SMA. Yesterday’s indecision candle was amidst shrinking open interest and higher volume, allowing for some consolidation in the near term.

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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