Home JPY futures: faces some consolidation

JPY futures: faces some consolidation

Updated: 1 Nov. 2018 | 09:24

After three consecutive daily drops, open interest in JPY futures markets rose by around 2.2K contracts on Wednesday from Thursday’s final 203,113 contracts, according to preliminary figures from CME Group. Volume, instead, dropped for yet another session, this time by nearly 26.9K contracts.

USD/JPY neutral/bullish near term

The recent daily decline in USD/JPY was amidst rising open interest and shrinking volume, which could allow for some near term consolidation ahead of a potential move higher to the 114.00 handle and above.

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