JPY futures: scope for some gains near term

Advanced figures for JPY futures markets noted open interest rose by 908 contracts at the beginning of the week, at the same time reversing 7 consecutive daily drops, according to CME Group. On the other hand, volume extended the erratic performance and shrunk by around 37.2K contracts.

USD/JPY rallies could be limited

The ongoing recovery in USD/JPY has reached the critical handle at 110.00 the figure. A small build in open interest could lend some momentum to the safe haven currency and spark a correction lower in spot.