JPY Futures: bearishness expected to persist
Open interest in JPY futures markets rose for the second consecutive session on Thursday, this time by more than 16K contracts according to preliminary data from CME Group. Volume, in the meantime, went down by around 120.7K contracts.
USD/JPY sets sails to 110.00
The improved sentiment in the risk-complex has been favouring the selling bias in the Japanese safe haven in past sessions, all underpinned by increasing open interest. Against this backdrop, a test by USD/JPY of the key 110.00 neighbourhood in the near-term should not be surprising.