JPY Futures: further gains look likely

CME Group’s advanced figures for JPY futures markets noted open interest and volume rose for yet another session, now by around 1.2K contracts and nearly 18K contracts, respectively.

USD/JPY could extend the down move to 108.00

USD/JPY has resumed the downside on the back of rising trade concerns and sustained at the same time by increasing open interest and volume in the Japanese safe haven. Against this backdrop, a move to the 55-day SMA in the 108.00 neighbourhood in the near term should not be ruled out.