JPY Futures: further appreciation in the pipeline

Pablo Piovano FXStreet

Open interest in JPY futures markets shrunk by around 2.2K contracts on Friday, prolonging the choppy activity. In the same line, volume went down for another session, this time by nearly 29.8K contracts.

USD/JPY faces downside pressure near term

Declining open interest and volume coupled with shrinking prices in the Japanese safe haven carries the potential to spark a U-turn in JPY price action, thus putting USD/JPY to extra downside pressure in the short-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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