JPY futures: potential squeeze higher
FXStreet News

JPY futures: potential squeeze higher

Open interest in JPY futures markets dropped for the second session in a row, this time by almost 5.5k contracts on Thursday from Wednesday’s final 230,366 contracts, according to flash data from CME Group. In the same line, volume shrunk by almost 11.8K contracts.

USD/JPY still targets 114.00 and above

The recent down move in USD/JPY was accompanied by diminishing open interest and volume, allowing for a reversion of the recent leg lower and opening the door for a potential test of 114.00 and beyond.

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