JPY Futures: upside appears unconvincing

In light of advanced figures for JPY futures markets from CME Group, open interest shrunk by around 3.7K contracts following four consecutive daily builds. Volume, instead, rose for the second session in a row, now by around 52.4K contracts.

USD/JPY dips look shallow

USD/JPY corrected sharply lower on Thursday on the back of renewed trade jitters, which triggered inflows into the safe haven JPY. However, the reduction in open interest warns against the continuation of the upside momentum in the Japanese currency, leaving the downside somewhat limited for the time being.