JPY Futures: scope for further retracement

CME Group’s preliminary readings for JPY futures markets noted open interest increased for yet another session on Tuesday, now by around 2.4K contracts. Volume followed suit and rose by around 24K contracts.

USD/JPY focused on 109.50… and beyond

The positive sentiment prevailing in the trade front has accelerated the outflows from the Japanese safe haven in past sessions. In addition, increasing open interest and volume in JPY seems to reinforce the view that extra gains lie ahead for USD/JPY. That said, the next target is now at monthly peaks near 109.50 ahead of the psychological handle at 110.00 the figure.