JPY futures: further consolidation likely

Pablo Piovano FXStreet

Open interest in JPY futures markets went up by 529 contracts last Friday from Thursday’s final 224,721 contracts. Volume, instead, decreased for the second day in a row, this time by more than 18K contracts.

USD/JPY sidelined, still looks to 114.00

USD/JPY is no gathering some traction on the back of rising risk appetite. Friday’s indecisive price action was amidst rising open interest and declining volume, allowing for the continuation of the rangebound pattern while a probable move higher to 114.00 still remains in the pipeline.

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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