JPY Futures: Bearish with caution
CME Group’s advanced figures for JPY futures markets noted open interest shrunk for the third consecutive session on Wednesday, this time by around 15.6K contracts. Volume, instead, reversed three straight drops and rose marginally by 293 contracts.
USD/JPY does not rule out a move to 110.00 and above
USD/JPY extended the recovery on Wednesday and regained the 109.00 mark early on Thursday. The move up in the pair came along shrinking open interest and the reversion of the downtrend in volume in the Japanese currency, suggesting that the upside could start to lose some traction despite extra gains still appear on the cards.