JPY Futures: further rangebound likely

In light of flash data for JPY futures markets from CME Group, open interest rose for the second day in a row on Wednesday, this time by around 3.6K contracts. Volume, instead, extended the choppy activity and shrunk by just 380 contracts.

USD/JPY points to extra consolidation near term

Erratic performance in both open interest and volume in the safe haven JPY would likely leave the consolidative theme in USD/JPY unchanged for the time being. Recent tops in the mid-108.00s should continue to cap the upside, while the 107.30 region has emerged as interim support.