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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