JPY Futures: room for a correction lower

Pablo Piovano FXStreet

In light of flash data for JPY futures markets from CME Group, open interest dropped once again on Thursday, now by almost 1.3K contracts. In the same direction, volume went down by nearly 9.2K contracts following two consecutive builds.

USD/JPY rejected from the 200-day SMA

Thursday’s pullback in USD/JPY was accompanied by declining open interest and volume in the Japanese safe haven. That said, while the downside appears somewhat limited, the 200-day SMA just above 109.00 the figure continues to offer a tough resistance for the time being.

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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