JPY futures: neutral/bullish near term
Open interest in JPY futures markets increased by nearly 2.2K contracts on Monday from Friday’s final 226,520 contracts, according to flash data from CME Group. On the flip side, volume dropped for the second consecutive session, this time by nearly 68.8K contracts.
USD/JPY further downside not ruled out
USD/JPY continues to recover so far this week, although the choppy performance in open interest and volume as of late still hint at the likeliness that further retracements could be in the pipeline.