JPY futures: further upside appears limited

Flash figures from CME Group for JPY futures markets noted open interest dropped for the second session in a row on Friday, this time by almost 2K contracts, vs. Thursday’s final 190,193 contracts. Volume, too, dropped by around 33.7K contracts.

USD/JPY faces a tough resistance around 110.00

Friday’s negative price action in USD/JPY was amidst declining open interest and volume, reinforcing the idea that dips appear shallow and the 110.00 area still emerges as a tough hurdle.