JPY futures: scope for extra gains

Open interest in JPY futures markets shrunk by around 2.3K contracts on Friday from Thursday’s final 187,751 contracts, according to advanced data from CME Group. In the same line, volume decreased by nearly 31.2K contracts.

USD/JPY could slip back to 110.00

After testing fresh tops beyond 111.00 at the end of last week, USD/JPY has sparked a correction lower that could test the 110.00 neighbourhood in the near term amidst declining open interest and volume.