JPY Futures: Further appreciation on the cards

In light of advanced figures from CME Group for JPY futures markets, investors added around 3.9K contracts to their open interest positions last Thursday, while volume followed suit and increased by around 2.3K contracts.

USD/JPY eyes a test of 107.00

USD/JPY has broken below the key 200-day SMA amidst rising open interest and volume in the Japanese safe haven. Against this, further downside pressure is thus forecasted in the pair in the short-term horizon with the next target at the monthly lows near the 107.00 handle.