JPY Futures: bearish with caution

CME Group’s preliminary data for JPY futures markets noted open interest shrunk by nearly 3.6K contracts after two consecutive builds. Volume, instead, rose by around 36.5K contracts, extending the choppy activity.

USD/JPY now eyes 108.00 and above

USD/JPY is extending the recent upside and has managed to regain the 107.00 level and above. Further gains remains on the cards against a favourable backdrop for riskier assets, although the recent drop in open interest and erratic performance of volume could add some obstacles to this view.