CME Group’s preliminary figures for JPY futures markets noted investors added nearly 7.5K contracts to their open interest positions at the beginning of the week, while volume shrunk for the third consecutive session, this time by around 22.8K contracts.
USD/JPY expected to re-test 109.50
The daily pullback in the Japanese yen was accompanied by rising open interest, opening the door for the continuation of the up trend in USD/JPY to, initially, monthly peaks in the mid-109.00s the near term. The contraction in volume, however, could spark some consolidation ahead of extra gains.
Share
