Flash data for JPY futures markets from CME Group saw open interest shrinking by almost 2.5K contracts on Thursday from Wednesday’s final 230,445 contracts, recording the second drop in a row. Volume, instead, went down by nearly 15.5K contracts, prolonging the choppy trade seen in past days.
USD/JPY door open for further pullbacks
USD/JPY’s positive session on Thursday was in tandem with shrinking open interest and volume, removing tailwinds from occasional bullish attempts in the pair and leaving the outlook on the bearish side for the time being.
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