JPY Futures: Look neutral/bullish in the short term

Pablo Piovano FXStreet

In light of advanced figures from CME Group for JPY futures markets, open interest increased by the second session in a row on Wednesday, now by almost 2.5K contracts. On the other hand, volume resumed the downside and shrunk by nearly 9.5K contracts.

USD/JPY stays supported around 107.00

USD/JPY is looking to stabilize in the lower end of the range near the 107.00 mark. While rising open interest in the Japanese safe haven favours extra downside in the pair, the downtick in volume could spark some near-term consolidation.

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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