JPY futures: extra consolidation on the cards

CME Group’s advanced figures for JPY futures markets noted open interest shrunk by more than 2.7K contracts on Tuesday vs. Monday’s final 199,681 contracts, extending the choppy activity so far this week. Volume, instead, rose by more than 14.3K contracts, reverting the previous drop.

USD/JPY rangebound above 111.00

Choppy activity in both open interest and volume opens the door for the continuation of the sideline theme in USD/JPY above the 111.00 handle in the short-term horizon.