JPY futures: upside appears limited

CME Group’s preliminary figures for JPY futures markets, open interest dropped by almost 1.8K contracts on Wednesday from Tuesday’s final 226,835 contracts. In the same direction, volume dropped noticeable by nearly 101K contracts, although greatly influenced by the holiday in the US markets.

USD/JPY upside so far capped by 114.00

USD/JPY is expected to extend the consolidative theme in the very near term, as shown by the erratic performance in both open interest and volume. On the upside, the 114.00 neighbourhood now emerges as quite a strong resistance, while the 112.30 region should hold the initial test on the downside.

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