Open interest in JPY futures markets rose by around 2.2K contracts on Friday, reversing two consecutive daily drops according to flash data from CME Group. On the other hand, volume clinched the second drop in a row, now by around 30.6K contracts.
USD/JPY seen sidelined below 109.00
USD/JPY has been rejected from the 109.00 neighbourhood in past sessions. Friday’s pullback in spot was accompanied by rising open interest and another decline in volume in JPY, leaving the outlook unclear for the time being. Therefore, further rangebound is not ruled out while the 109.00 area remains the next resistance of significance.
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