JPY futures: some consolidation seems likely

Pablo Piovano FXStreet

Open interest in JPY futures markets increased by more than 2K contracts on Friday from the previous day’s final 227,818 contracts, reverting two consecutive daily drops, according to CME Group. On the other hand, volume shrunk noticeably by around 35.6K contracts, recording the second drop in a row.

USD/JPY appears sidelined below 109.00

USD/JPY’s 2-day up move was on the back of choppy activity in open interest and declining volume. That said, further consolidation looks likely in the short-term horizon, while the 109.00 area is expected to limit the upside for the time being.

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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