JPY Futures: near term rebound looks likely

Flash data from CME Group noted open interest in JPY futures markets shrunk by just 552 contracts on Monday, while volume also dropped by around 4.3K contracts.

USD/JPY stays capped by 109.00

Negative price action in the safe haven JPY coupled with shrinking open interest and volume carries the potential to spark a U-turn in USD/JPY near the key resistance at 109.00 the figure.