JPY Futures: further gains on the cards
|Open interest in JPY futures markets extended the choppy activity on Tuesday and this time rose by nearly 2K contracts. Volume, instead, reversed three consecutive builds and shrunk significantly by almost 125.5K contracts, all according to preliminary data from CME Group.
USD/JPY upside looks limited
Yesterday’s pullback in USD/JPY came in tandem with rising open interest, which opens the door for further decline in the near term. However, the sharp increase in volume should remove some tailwinds from the potential down move. In the meantime, occasional bullish attempts are seen as limited for the time being in light of the increasing uncertainty surrounding the US-China trade war.
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