JPY Futures: Extra appreciation on the cards
CME Group’s flash readings for JPY futures markets noted open interest reversed four declines in a row and increased by around 27.1K contracts on Friday. Volume, instead, shrunk by nearly 35.7K contracts after two consecutive daily builds.
USD/JPY eyes a move to 108.30, the 200-day SMA
USD/JPY charted a monthly top beyond 111.00 the figure at the end of last week, although it closed the session without a clear direction. Increasing open interest amidst inconclusive price action leaves the door open for a probable extension of the leg lower to the 108.30 region, where is located the 200-day SMA.