CME Group’s flash data for JPY futures markets noted investors added nearly 2.5K contracts to their open interest positions on Monday from Friday’s final 154,970 contracts. On the other direction, volume shrunk by around 18.3K contracts after three consecutive builds.
USD/JPY next resistance emerges at 112.00
USD/JPY is now struggling for direction in the upper end of the recent range near the key 200-day SMA in the mid-111.00s. Rising open interest allows for the continuation of the move, which should find strong resistance in the 112.00 neighbourhood. Shrinking volume, however, could force the pair to attempt some consolidation in the near term.
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