Open interest and volume in JPY futures markets increased by around 48.1K and nearly 53.6K contracts, respectively, on Thursday, as per preliminary figures from CME Group.
USD/JPY now eyes the 200-day SMA at 108.40
Increasing coronavirus concerns continue to lend support to the demand for the safe havens and are forcing USD/JPY to recede further. Against this backdrop, rising open interest and volume in the Japanese yen should remain supportive of a deeper pullback in the short-term horizon to, initially, the 200-day SMA in the 108.40 region.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.