JPY futures: scope for some gains near term

Pablo Piovano FXStreet

Advanced figures for JPY futures markets noted open interest rose by 908 contracts at the beginning of the week, at the same time reversing 7 consecutive daily drops, according to CME Group. On the other hand, volume extended the erratic performance and shrunk by around 37.2K contracts.

USD/JPY rallies could be limited

The ongoing recovery in USD/JPY has reached the critical handle at 110.00 the figure. A small build in open interest could lend some momentum to the safe haven currency and spark a correction lower in spot.

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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