Open interest in JPY futures markets shrunk by just 897 contracts on Wednesday according to preliminary data from CME Group. Volume followed suit and went down by more than 36K contracts.
USD/JPY could attempt a test of the mid-106.00s
The weekly up move in USD/JPY looks firm for the time being. However, the recent negative price action in JPY coupled with diminishing open interest and volume could favour a rebound in the near term, forcing spot to recede to recent lows in the 106.50 region.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.