JPY futures: rising odds for extra upside

Advanced data from CME Group noted open interest rose for the second session in a row on Wednesday, this time by around 1.3K contracts vs. Tuesday’s figures. Volume followed suit, up by more than 4.5K contracts after three consecutive daily declines.

USD/JPY looks neutral/bearish in the short-term

USD/JPY keeps navigating within a consolidative theme below the 112.00 handle for the time being. Yesterday’s small pullback was on the back of increasing open interest and volume, adding to the probability of extra pullbacks in the near term.