JPY futures: scope for further gains

Flash data for JPY futures markets from CME Group noted open interest dropped for yet another session on Tuesday, this time by more than 6.2K contracts vs. Friday’s final 219,075 contracts. Volume, instead, extended the choppy performance, rising by around 16K contracts.

USD/JPY poised for a correction lower

The recent up move in USD/JPY to levels beyond 109.00 the figure was on the back of erratic activity in volume and a persistent decline in open interest, hinting at the likelihood that further JPY appreciation remains in the pipeline.