JPY Futures: room for further decline

CME Group’s preliminary figures for JPY futures markets saw open interest rising for the second consecutive session on Monday, this time by just 229 contracts. On the other hand, volume dropped for the third straight session, now by around 11.5K contracts.

USD/JPY still targets the 109.00 area

USD/JPY recovered ground lost on Monday following three daily pullbacks. Rising open interest in the Japanese safe haven allows for the continuation of the recovery in spot, although a strong resistance aligns in the 109.00 neighbourhood, where also sits the key 200-day SMA.