JPY Futures: scope for further losses

CME Group’s flash data for JPY futures markets noted investors added around 5.1K contracts to their open interest positions on Thursday, recording the fourth consecutive build. In the same line, volume rose by around 74.1K contracts, keeping the choppy activity intact.

USD/JPY next target emerges at 110.00

Positive news from the US-China trade front has been sustaining the selling mood in the Japanese safe haven as of late. This, coupled with rising open interest and volume also supports further upside in USD/JPY with the next target emerging at the psychological 110.00 handle.