JPY futures: further upside not ruled out

CME Group’s flash data for JPY futures markets noted open interest and volume decreased by around 4.4K contracts and 76.3K contracts, respectively, Friday from the previous day.

USD/JPY still looks to 112.00

The negative performance of USD/JPY on Friday was in tandem with shrinking open interest and volume, removing tailwinds from a potential deeper retracement in the near term, focusing instead on a probable re-test of the 112.00 area and above.