JPY Futures: scope for further decline

Open interest in JPY futures markets increased for the fourth consecutive day on Tuesday, this time by nearly 2K contracts. On the other hand, volume shrunk for the third consecutive session, now by almost 10.3K contracts.

USD/JPY could extend the rebound further

USD/JPY charted a bullish outside day on Tuesday in tandem with rising open interest, which could allow for some continuation of the positive price action. Diminishing volume, however, carries the potential to slow the pace of the correction.