JPY futures: further appreciation likely near term

Pablo Piovano FXStreet

According to flash data from CME Group for JPY futures markets, open interest and volume shrunk by almost 1.5K contracts and nearly 3K contracts, respectively, on Wednesday.

USD/JPY upside appears limited

The recovery in USD/JPY faces a tough hurdle in the 110.00 area. Declining open interest and volume against the backdrop of falling prices in the Japanese currency could allow for a reversion of the current trend, motivating spot to resume the downside in the short-term horizon.

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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