JPY futures: upside momentum loses traction

Open interest in JPY futures markets increased for the third session in a row on Monday, this time by mire than 6.2K contracts vs. Friday’s final 201,841 contracts, according to flash data from CME Group. On the other hand, volume dropped by nearly 33.5K contracts, recording the second consecutive decrease.

USD/JPY a test of 113.00 and above remains on the cards

The rally in USD/JPY remains well and sound on Tuesday amidst rising open interest. However, shrinking volume could remove some tailwinds from the up move. In the meantime, a visit to levels above 113.00 the figure stays on the cards.