JPY futures: neutral/bullish near term

Flash data for JPY futures markets noted open interest rose more than 1.8K contracts on Tuesday from Monday’s final 205,321 contracts. Volume, instead, extended the downtrend for another session and decreased by around 4.5K contracts.

USD/JPY room for a correction lower

USD/JPY appears somewhat stabilized after clinching fresh yearly highs in the 112.00 neighbourhood amidst a small build in open interest and the continuation of the down move in volume. That said, further consolidation is seen in the near term although occasional dips cannot be ruled out.