JPY Futures: Look cautious near-term

Pablo Piovano FXStreet

In light of preliminary prints for JPY futures markets from CME Group, open interest and volume rose by nearly 5.5K contracts and almost 75K contracts, respectively, on Tuesday, reversing Friday’s pullback.

USD/JPY does not rule out extra gains

Tuesday’s lack of direction in the price action around USD/JPY was on the back of rising open interest and volume, leaving the outlook somewhat uncertain. That said, risk trends, with the main focus on the COVID-19, are expected to keep ruling the sentiment in the Japanese safe haven while the pair keeps targeting the area above the key 110.00 barrier.

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.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.