According to flash data for JPY futures markets, market participants added around 6K contracts to their open interest positions on Friday from Thursday’s final 184,403 contracts. On the other hand, volume fell by almost 19K contracts.
USD/JPY a deeper pullback appears unlikely
USD/JPY has resumed the downtrend as of late on a pick up of the risk aversion sentiment following the turmoil around the Turkish Lira. However, irrelevant activity in open interest amidst diminishing volume adds to the view that further downside could lose traction in the near term.
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