JPY Futures: Extra appreciation seems unlikely
Open interest dropped by a marginal 47 contracts on Thursday, slightly reversing the previous build, noted advanced figures from CME Group. Volume, however, resumed the downside and shrunk by more than 78K contracts.
USD/JPY still expected to test higher levels
USD/JPY’s moderate pullback on Wednesday was in tandem with declining open interest and volume in the Japanese safe haven, which opens the door for a rebound in the near-term and the resumption of the uptrend to levels beyond 110.00 the figure.