JPY futures: scope for extra gains near term

Pablo Piovano FXStreet

CME Group’s advanced figures for JPY futures markets noted investors trimmed their open interest positions for the second day in a row, this time by just 847 contracts on Wednesday from Tuesday’s final 184,744 contracts. Volume followed suit and dropped by around 35.1K contracts.

USD/JPY still capped by 111.00

USD/JPY is fading part of its recent gains amidst shrinking open interest and volume in the Japanese safe haven. That said, while the 111.00 handle continues to cap the upside, potential retracements should not be ruled out.

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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