JPY Futures: room for extra gains

CME Group’s flash data for JPY futures markets noted open interest shrunk for the fourth session in a row on Thursday, this time by around 3.5K contracts. Volume, instead, rose for the second consecutive session, now by around 10.5K contracts.

USD/JPY could retest weekly lows near 107.80

USD/JPY dropped to the 107.85/80 band on Thursday although it managed to close the day with small gains. Shrinking open interest in the Japanese safe haven does not rule out the likeliness of further upside in the near term.