JPY futures: poised for further retracement

Pablo Piovano FXStreet

CME Group’s flash data for JPY futures markets noted open interest shrunk for yet another session on Friday, this time by more than 2.1K contracts, while volume went up by around 37.5K contracts reversing the previous drop.

USD/JPY rebound has extra legs

USD/JPY has recently broken above the psychological 110.00 handle and is extending the bounce further north of the key level. Shrinking open interest around the Japanese safe haven should sustain the continuation of the up move in spot for the time being.

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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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