JPY Futures: bearish/neutral near term
|According to advanced figures from CME Group for JPY futures markets, open interest increased by around 1.5K contracts on Monday, reversing the previous drop. Volume, instead, dropped for the second day in a row, this time by nearly 35.7K contracts.
USD/JPY scope for extra gains
USD/JPY has regained the 108.00 mark and above on the back of rising open interest amidst declining prices in JPY. That said, there is still room for the continuation of the uptrend in spot, although shrinking volume could remove some tailwinds from the upside.
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