JPY Futures: further upside not ruled out

In light of advanced data from CME Group, open interest in JPY futures markets dropped by around 2.1K contracts on Thursday following three consecutive daily builds. Volume followed suit, shrinking for the second day in a row, now by 9.1K contracts.

USD/JPY looks neutral/bearish

Price action around USD/JPY remains inconclusive amidst declining open interest and volume. Further rangebound looks like it in the near term, although a resumption of the bearish mood remains well on the cards.