JPY futures: room for extra upside

CME Group’s flash data for JPY futures markets noted open interest rose for yet another session, this time by a modest 340 contracts. The up trend in volume extended for the fourth session in a row, up by around 33.5K contracts.

USD/JPY expected to remain offered

USD/JPY has accelerated the move lower and broke below the critical support at 110.00 the figure. In doing so and against the backdrop of rising open interest and volume in JPY futures, a test of 109.70 (March low) cannot be ruled out in the short-term horizon.