JPY Futures: further gains not ruled out

CME Group’s flash data for JPY futures markets noted open interest extended the uptrend on Friday, raising by more than 4K contracts. Volume, instead, shrunk for the second session in a row, now by around 6.8K contracts.

USD/JPY is now looking to 114.65, 2019 low

USD/JPY is navigating the area of 7-month lows in the mid-105.00s, always on the back of the persistent ‘fly-to-safety’ mood in the global markets. That said, increasing open interest in the Japanese safe haven should be supportive of a potential move to YTD lows at 104.65 recorded in early January.