JPY Futures: scope for extra losses

In light of advanced data for JPY futures markets from CME Group, open interest rose for the second session in a row on Thursday, this time by just 85 contracts. In the same line, volume reversed the previous drop and gained around 43.1K contracts.

USD/JPY could visit 109.00 in the near term

The upside momentum in USD/JPY has been reinforced by increasing open interest and volume along amidst shrinking prices in the safe haven JPY. That said, the pair’s up move could visit once again the key resistance area around the 109.00 mark.