JPY Futures: neutral/bearish near term

11 Jul 2019

CME Group’s advanced figures for JPY futures markets saw open interest shrinking for the third session in a row, this time by just 123 contracts, while volume ticked higher by almost 43K contracts, reversing at the same time two consecutive drops.

USD/JPY expected to meet support near 107.50

The correction from the 109.00 neighbourhood in USD/JPY was on the back of rising open interest and declining volume. That said, some consolidation could arise in the near term, although a test of the mid-107.00s should not be ruled out.

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