Home JPY futures: Squeeze higher posed to continue

JPY futures: Squeeze higher posed to continue

Updated: 6 May. 2019 | 08:32

In light of flash data for JPY futures markets from CME Group, open interest rose by just 292 contracts on Friday while volume increased by more than 22.1K contracts.

USD/JPY could re-test 109.70

Fresh trade jitters are collaborating with the bid bias around the Japanese safe haven against the backdrop of an uptick in open interest and volume, all forcing USD/JPY to retreat further and at the same time opening the door for a potential move lower to March lows in the 109.70 region.

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