JPY futures: appears neutral near term

Open interest in JPY futures markets rose more than 2.4K contracts on Thursday from Wednesday’s final 204,628 contracts, according to flash data from CME Group. On the other hand, volume dropped by nearly 2.3K contracts.

USD/JPY faces some consolidation

The up move in USD/JPY on Thursday was amidst rising open interest and another fall in volume, leaving the door open for the continuation of the consolidative theme for the time being.