JPY Futures: room for extra consolidation

CME Group’s preliminary figures for JOY futures markets saw open interest dropping by around 1.7K contracts on Wednesday, while volume recorded a small increase of just 638 contracts.

USD/JPY expected to keep the familiar range

The positive performance of USD/JPY yesterday was amidst shrinking open interest and a small up tick in volume, leaving the outlook unclear and signaling that further consolidation between 104.50 and 107.00 is likely for the time being.