- April 16, 2020
- Posted by: Analysis Team
- Category: Forex News
In light of flash data for JPY futures markets from CME Group, open interest shrunk by just 504 contracts following three consecutive daily builds. On the other hand, volume clinched the second advance in a row, now by nearly 12K contracts.
USD/JPY could retest the 200-day SMA near 108.30
USD/JPY’s upside was on the back of declining open interest in the Japanese safe haven, hinting at the probability that a correction lower could be shaping up in the near term. However, rising volume could allow for a potential move to the 200-day SMA around 108.30, where it could lose momentum.