JPY futures: neutral/bearish near term

Pablo Piovano FXStreet

Open interest dropped by around 8.4K contracts on Friday from Thursday’s final 232,492 contracts, while volume also decreased by more than 127K contracts, according to flash data for JPY futures from CME Group.

USD/JPY scope for extra pullbacks

USD/JPY continues to correct lower so far this week. However, further retracement appears limited in light of recent shrinking volume and open interest. That said, the mid-111.00s should emerge as an area of decent contention.

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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