JPY Futures: further upside on the cards

According to preliminary data for JPY futures markets from CME Group, open interest increased by around 5.3K contracts on Thursday. In the same direction, volume went up by around 59.4K contracts, prolonging the choppy activity.

USD/JPY faces downside risks

Thursday’s drop in USD/JPY was on the back of rising open interest and volume in the Japanese safe have, allowing for the continuation of the down move at least in the short-term horizon.