In light of advanced figures for JPY futures markets from CME Group, open interest rose by nearly 8.6K contracts on Friday, clinching the second consecutive build. In the same line, volume went up by almost 122.5K contracts, the largest single-day build so far this year.
USD/JPY looks to further retracement
The leg lower in USD/JPY has extended well below the 109.00 support amidst rising fears of a global slowdown, all in response to a pick up in trade effervescence and the consequent higher demand for safe havens. Further inflows into JPY are thus expected and therefore the leg lower in spot should have room to go for the time being.
Share
