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JPY Futures: Bullish/neutral near-term

In light of advanced readings from CME Group for JPY futures markets, both open interest and volume shrunk by just 540 contracts and by more than 22K contracts on Tuesday.

USD/JPY faces strong resistance around 110.00

Tuesday’s inconclusive price action in USD/JPY was accompanied by shrinking open interest and volume in the safe haven yen, all indicative that the upside could run out steam and attempt a near-term consolidation.

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