JPY futures: scope for further gains

CME Group’s flash data for JPY futures markets noted open interest rose for yet another session, this time by almost 1.3K contracts. Volume, instead, decreased by around 8.2K contracts, offsetting the previous build.

USD/JPY neutral/bearish, could slip back to 111.00

Yesterday’s move lower in USD/JPY was on the back of rising open interest, allowing for the continuation of the down move. However, shrinking volume could slow down the pace of the drop and prompt some consolidation in the near term.