JPY futures: further strength likely

Pablo Piovano FXStreet

In light of flash figures for JPY futures markets from CME Group, open interest rose for the second session in a row, this time by nearly 8.7K contracts on Wednesday from Tuesday’s final 216,224 contracts. Volume also rose by around 106.5K contracts, reverting two consecutive drops.

USD/JPY remains under pressure

Risk-off trade has given a boost to the demand for the safe haven JPY in past hours, dragging USD/JPY to sub-106.00 levels for the first time since March 2018 and paving the way for the continuation of the leg lower. This view is reinforced by rising open interest and volume.

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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