JPY Futures: scope for extra losses

CME Group’s preliminary readings for JPY futures markets noted investors scaled back their open interest positions by around 2.6K contracts on Wednesday. Volume, instead, rose for the second session in a row, now by almost 38.9K contracts.

USD/JPY now targets the 100-day SMA at 109.64

USD/JPY is extending its recovery beyond the key 109.00 handle supported by rising volume in the JPY safe haven. On another side, the choppy performance in open interest could spark some near term consolidation ahead of a potential move to the 109.60 region, where is located the 100-day SMA.