JPY futures: further appreciation remains on the cards
According to flash data from CME Group, open interest in JPY futures markets dropped by almost 900 contracts on Wednesday vs. Tuesday’s final 230,001 contracts. In addition, volume retreated by nearly 18K contracts, partially reverting the previous build. This was the fourth drop in the last five sessions.
USD/JPY diminishing odds for further upside
USD/JPY appears to have met strong resistance in the 109.00 area amidst shrinking open interest and volume, leaving the door open for a correction lower.