JPY Futures: Further weakness seems limited
In light of advanced figures from CME Group, open interest increased for the second consecutive session on Monday, this time by just 972 contracts. On the other hand, volume dropped by around 45.6K contracts, reversing two builds in a row.
USD/JPY could resume the downside
USD/JPY keeps looking to the risk trends for direction, particularly in connection with the Wuhan virus. Monday’s recovery was amidst an uptick in open interest and a moderate pullback in volume, signalling that further gains in the spot could be somewhat limited.