Search ForexCrunch

In light of advanced figures for JPY futures markets from CME Group, open interest dropped by 939 contracts on Monday from Friday’s final 257,209 contracts. Volume followed suit diminishing by nearly 30K contracts.

USD/JPY supported near 113.00, still targets 114.70

Monday’s pullback in USD/JPY was in tandem with shrinking volume and open interest, opening the door for a potential U-turn and a subsequent resumption of the up trend. The immediate target in that case should be last week’s 2018 tops in the mid-114.00s.