JPY futures: scope for a correction lower

Open interest in JPY futures markets shrunk by around 5.5K contracts on Friday, according to advanced data from CME Group. Volume followed suit, down by nearly 5.5K contracts after three consecutive daily builds.

USD/JPY set sails to 112.00

Following two daily pullbacks in a row, USD/JPY is now seeing some recovery against the backdrop of shrinking open interest and volume. That said, another visit to the key barrier at 112.00 the figure cannot be ruled out in the near term.