CME Group’s flash data for JPY futures markets showed open interest shrunk by around 3.8K contracts on Tuesday from Monday’s final 169,698 contracts, the first drop after four consecutive builds. On the other hand, volume increased by nearly 22K contracts.
USD/JPY supported near 111.00
USD/JPY dropped and tested fresh lows in the 111.00 neighbourhood on Tuesday amidst declining open interest and an uptick in volume, allowing for a rebound in the short-term horizon to, initially, the 200-day SMA at 111.50.
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