JPY Futures: neutral/bullish near term

Pablo Piovano FXStreet

CME Group’s advanced figures for JPY futures markets noted open interest rose by around 3.2K contracts on Monday, reversing the previous drop although still within a choppy performance. Volume, instead, shrunk by around 73.1K contracts, down for the second consecutive session.

USD/JPY further pullbacks not ruled out

Price action around USD/JPY was unclear for another session on Monday. Rising open interest and volume should point to some consolidation although extra retracements should not be discarded yet. Rising geopolitical concerns and alternating risk trends should be key for spot in the near term.

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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