JPY Futures: still look neutral near term
|According to flash data for JPY futures markets from CME Group, open interest rose for the third session in a row on Tuesday albeit by just 26 contracts. On the other hand, volume extended the downtrend and shrunk by nearly 3.6K contracts.
USD/JPY could still test 109.00 and above
USD/JPY is seen some correction lower following recent tops, all amidst rising open interest and declining volume in the Japanese safe haven. That said, the lack of a clear trend should keep the sideline theme unchanged for the time being, although a move higher to the 200-day SMA just above 109.00 the figure in the short-term horizon should not be ruled out.
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