JPY Futures: looks increasingly bearish

Pablo Piovano FXStreet

CME Group’s advanced readings for JPY futures markets saw another increase in open interest on Wednesday, this time by around 16.1K contracts. Volume, instead, shrunk by nearly 5.7K contracts, prolonging the choppy activity.

USD/JPY set sails to 110.00

USD/JPY clinched the key resistance area in the mid-109.00s helped by rising open interest, which should remain supportive of further gains and a potential move to the key barrier at 110.00 the figure. Lower volume, however, could spark some consolidation in the near term or slow the pace of the move up.

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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