JPY futures: scope for further gains

Flash data for JPY futures markets from CME Group noted open interest dropped by nearly 2.7K contracts on Thursday from Wednesday’s final 193,014 contracts. Volume, instead, rose for the second session in a row, this time by around 19.5K contracts.

USD/JPY neutral/bearish near term

USD/JPY keeps losing ground in the second half of the week amidst declining open interest and rising volume, leaving the scenario intact for the continuation of the broad consolidative theme while occasional bouts of selling pressure should not be ruled out.