CME Group’s advanced data for JPY futures markets noted open interest went up by nearly 6K contracts on Monday, recording the fifth consecutive daily build. On the other hand, volume extended the choppy trade and dropped by around 20.5K contracts.
USD/JPY could attempt some consolidation
USD/JPY‘s second consecutive pullback at the beginning of the week was on the back of rising open interest and volume after briefly testing the 114.00 handle and above. There is room for some consolidation in the very near term although a test of the mid-114.00s remains well in the pipeline.
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