JPY Futures: extra gains remain on the cards

In light of flash data for JPY futures markets from CME Group, open interest shrunk for the second session in a row on Friday. In the same direction, volume went down by around 37.3K contracts, reversing two consecutive builds.

USD/JPY could revisit recent lows in sub-108.00 levels

Friday’s up move in USD/JPY was in tandem with declining open interest and volume in the Japanese safe haven, hinting at the likeliness that some recovery could emerge in the near term. Against this backdrop, a probable move to recent lows in sub-108.00 levels should not be ruled out.