JPY futures: selling mood expected to persist

Pablo Piovano FXStreet

CME Group’s advanced data for JPY futures markets noted investors added almost 6.9K contracts to their open interest positions on Tuesday, recording at the same time the fifth consecutive build. In the same direction, volume partially reverted Monday’s pullback and increased by more than 11K contracts.

USD/JPY poised for another visit of 112.00 and beyond

USD/JPY remains in the upper bound of the recent range, although a clear breakout of the 112.00 handle still remains elusive for the time being. The continuation of the up trend in open interest should sustain the bullish view, although choppy volume may spark some consolidation in the short-term horizon.

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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