CME Group’s advanced figures for JPY futures markets noted open interest increased for the fourth consecutive session, this time by around 1.1K contracts. In the same line, volume went up by nearly 31.7K contracts.
USD/JPY seen correcting lower
After a brief surpass of the key 200-day SMA beyond 109.00 the figure, USD/JPY has quickly reversed the move and re-focused on the downside. Increasing open interest and volume against the backdrop of a firm JPY opens the door for the continuation of the leg lower in the near term, with initial support at the 21-day SMA, today at 108.26.
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