JPY Futures: Extra losses appears unlikely

Pablo Piovano FXStreet

CME Group’s flash data for JPY futures markets noted open interest went down by just 780 contracts on Friday. On the flip side, volume reversed two drops in a row and gained nearly 1.9K contracts.

USD/JPY faces strong resistance at 110.00

The selling pressure in the Japanese safe haven could be running out of steam after Friday’s decline in combination with decreasing open interest. This this regard the upside in USD/JPY could meet a tough barrier in the 110.00 neighbourhood.

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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