JPY Futures: Further rangebound on the cards

According to advanced data from CME Group for JPY futures markets, open interest increased by around 5.1K contracts on Friday, prolonging the choppy performance seen as of late. On the other hand, volume shrunk by nearly 137.5K contracts, reversing two straight builds.

USD/JPY does not rule out further weakness

USD/JPY climbed and test the area above 108.00 the figure at the end of last week, although the move lacked follow through. Despite open interest ticked lower, the inconclusive trend could spark some consolidation in the short-term horizon, while the significant drop in volume also keeps the upside in the pair somewhat limited for the time being.