JPY Futures: Further gains on the cards

CME Group’s flash figures for JPY futures markets noted open interest increased for yet another session on Friday, now by around 3.3K contracts. On the other hand, volume shrunk by nearly 35.8K contracts, reversing the previous build.

USD/JPY could slip back to 106.90

USD/JPY could retreat further in the near-term following Friday’s negative price action amidst rising open interest in the Japanese safe haven. That said, the next target on the downside aligns at the monthly lows near 106.90.