JPY Futures: further gains back on the radar

Pablo Piovano FXStreet

CME Group’s advanced figures for JPY futures markets noted open interest shrunk for the third consecutive day on Monday, now by almost 2.3K contracts. Volume followed suit and decrease again, now by around 16.5K contracts.

USD/JPY risks a move back to sub-106.00 levels

The recent up move in USD/JPY was on the back of declining open interest and volume in the Japanese safe haven. That, coupled with declining prices, opens the door for a potential correction lower in spot to, initially, the 106.00 neighbourhood.

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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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