JPY Futures: room for extra gains

Pablo Piovano FXStreet

CME Group’s flash data for JPY futures markets noted open interest shrunk for the fourth session in a row on Thursday, this time by around 3.5K contracts. Volume, instead, rose for the second consecutive session, now by around 10.5K contracts.

USD/JPY could retest weekly lows near 107.80

USD/JPY dropped to the 107.85/80 band on Thursday although it managed to close the day with small gains. Shrinking open interest in the Japanese safe haven does not rule out the likeliness of further upside 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.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.