CME Group’s flash data for JPY futures markets noted investors added just 167 contracts to their open interest positions on Thursday from Wednesday’s final 205,552 contracts, recording the first build after six consecutive drops. On another direction, volume shrunk for the second straight session by nearly 16.8K contracts.
USD/JPY faces strong resistance at 110.00
USD/JPY has been sidelined for the last sessions amidst declining volume and open interest, while unsuccessfully trying to break above the 110.00 handle. That said, further weakness in the Japanese safe haven looks unlikely, opening the door for a move lower in the near term.
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