JPY futures: extra consolidation on the cards

JPY futures markets showed open interest dropped for the second session in a row on Tuesday, this time by nearly 2.3K contracts, according to flash data from CME Group. In the same direction, volume shrunk by a modest 3.4K contracts.

USD/JPY seen sidelined for the time being

USD/JPY is prolonging the rangebound theme so far this week amidst declining open interest and volume. Despite a move lower is still in the pipeline, the continuation of the ongoing consolidations appears most likely in the short-term horizon.