JPY Futures: extra rangebound likely

Pablo Piovano FXStreet

In light of advanced data for JPY futures markets from CME Group, open interest rose by just 922 contracts on Friday, reversing the previous drop. On the other direction, volume shrunk by around 19.4K contracts.

USD/JPY looks consolidative near term

USD/JPY is approaching the 107.00 neighbourhood on the back of the better tone in the risk-associated complex. Unclear direction in both open interest and volume should keep the ongoing rangebound trading unchanged in the short-term horizon, with key resistance at the 55-day SMA in the 107.20 region.

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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