JPY futures: rebound likely to extend

Pablo Piovano FXStreet

Open interest in JPY futures markets went up by almost 1.6K contracts on Thursday from Wednesday’s final 224,873 contracts, extending the choppy performance, according to flash data from CME Group. In the same line, volume reverted the previous drop and rose by nearly 149K contracts.

USD/JPY supported near 112.30, 100-day SMA

USD/JPY’s drop and rebound from lows on Thursday’s was accompanied by increasing open interest and volume, opening the door for a continuation of the bounce off lows in the 112.30 region, where sits the 100-day SMA.

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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