JPY Futures: further rangebound still in the pipeline

According to advanced figures for JPY futures markets from CME Group, open interest shrunk for the first time since July 31, now by almost 2.8K contracts. On another direction, volume extended the choppiness and increased by nearly 17.3K contracts.

USD/JPY seen navigating within 105.00-107.00 range

USD/JPY continues to trade in tandem with alternating risk trends. The lack of direction in volume now in combination with the loss of upside momentum in open interest leaves spot to meander within 105.00 and 107.00 for the time being.