JPY Futures: squeeze higher is not ruled out in the short-term

Pablo Piovano FXStreet

Open interest in JPY futures markets shrunk by just 695 contracts on Tuesday, reversing four consecutive daily builds, according to preliminary data from CME Group. Volume, in the same direction, went down for the third straight session, this time by almost 11K contracts.

USD/JPY faces strong resistance above 108.00

Declining open interest and volume amidst negative price action in the Japanese safe haven is threatening the continuation of the recovery in USD/JPY, which has met moderate resistance already in Tuesday’s tops near 108.40.

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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.

EUR/USD trims gains, back below 1.1800

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GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

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