JPY futures: neutral/bearish near term
Preliminary figures from CME Group saw open interest in JPY futures markets contracting around 9.2K contracts on Thursday from Friday’s final 229,193 contracts. On the other hand, volume extended the choppy activity, shrinking by nearly 22.7K contracts.
USD/JPY room for extra gains…110.00 closer?
The softer tone in the Japanese safe haven comes amidst a lack of direction in volume, while open interest has been declining in past sessions. While further upside in USD/JPY is not ruled out in the near term, the downtrend in open interest could remove some tailwinds from the underlying move.