JPY Futures: Bounce could extend further

According to flash data from CME Group, open interest shrunk for the seventh consecutive session on Thursday, now by just 365 contracts. Volume, instead, rose by almost 69K contracts after two daily drops in a row.

USD/JPY expected to resume the upside

USD/JPY dropped and rebounded from the 108.60/55 band on Thursday amidst a small drop in open interest and increasing volume in the Japanese currency. Therefore, and against the backdrop of the better tone in the risk universe, the pair’s recovery should remain in place at least in the near-term horizon.