JPY Futures: further downside on the cards
|CME Group’s preliminary figures for JPY futures markets noted open interest and volume increased by nearly 2.4K contracts and almost 8K contracts, respectively, on Thursday.
USD/JPY now targets 109.30
USD/JPY keeps the march north unabated for the time being backed by the better tone in the risk-associated complex and rising open interest and volume coupled with negative price action in JPY. That said, further upside in spot looks likely in the short-term horizon, with the next target at August’s peak at 109.31.
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