JPY futures: upside has further wings

Open interest in JPY futures markets rose by almost 7.5K contracts on Tuesday vs. Monday’s final 186,978 contracts, recording the second consecutive build according to flash data from CME Group. Volume followed suit and rose sharply by nearly 50K contracts.

USD/JPY target remains at 112.00 and beyond

USD/JPY is seeing some weakness today after three consecutive daily advances. The recent important build in volume and open interest leaves the door open for a potential visit to the key 112.00 mark and above in the near term.