JPY futures: looking for a base

Open interest in JPY futures markets rose by around 1.8K contracts on Monday from Friday’s final 224,978 contracts, according to flash data from CME Group. Volume, instead, dropped sharply by nearly 58.7K contracts reverting four consecutive builds.

USD/JPY pullbacks seem limited

USD/JPY appears to have met some contention in the mid-113.00s after being rejected from tops above 114.00 the figure seen last week. Choppy open interest allows for some consolidation near term while the sharp drop in volume hints at the probability that further declines could be shallow.