JPY Futures: further appreciation not ruled out

Pablo Piovano FXStreet

In light of preliminary data for JPY futures markets from CME Group, open interest rose for the third straight session on Thursday, although by just 353 contracts. Volume, too, went up for yet another session, this time by nearly 7.5K contracts.

USD/JPY could extend the leg lower to 108.00

The corrective downside in USD/JPY carries the potential to test lower levels near the 108.00 handle in the short-term horizon, all on the back of rising open interest and volume coupled with the positive price action in the Japanese safe haven.

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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