JPY futures: further consolidation not ruled out

In light of flash data for JPY futures markets from CME Group, open interest dropped by almost 5K contracts on Friday vs. Thursday’s final 192,135 contracts. Volume, instead, rose by the second consecutive session, this time by around 28.5K contracts.

USD/JPY seen within 110.40/111.90

Friday’s rebound in USD/JPY from the 100-day SMA near 110.50 was against the backdrop of rising volume despite the down tick in open interest, leaving the door open for a continuation of the consolidative theme in the near term, likely between 110.40 and the vicinity of the 112.00 mark.

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