JPY Futures: upside looks limited so far

Flash data for JPY futures markets from CME Group noted both open interest and volume decreased on Monday by around 1.5K contracts and 20.3K contracts, respectively.

USD/JPY squeeze higher appears on the cards

USD/JPY receded on Monday and tested the 108.30 region on the back of shrinking open interest and volume. The move leaves the door open for a potential retracement in the safe haven JPY and therefore allows for some rebound in spot in the short-term horizon.