Advanced data for JPY futures markets noted open interest shrunk by just 606 contracts on Friday following three consecutive daily builds. In the same line, volue went down by around 30.2K contracts, also reversing three builds in a row.
USD/JPY risks a correction lower
USD/JPY is adding to Friday’s gains and is flirting with the key 200-day SMA around the 109.00 handle. However, shrinking open interest and volume coupled with negative price action in the Japanese safe haven warns against the continuation of the up move, at least in the very near term.
Share
