Open interest in JPY futures markets rose by the sixth consecutive session on Tuesday, this time by almost 2K contracts vs. Monday’s final 230,569 contracts, according to CME Group advanced data. In the same line, volume increased by around 50.7K contracts, extending the choppiness seen in volume as of late.
USD/JPY breakout of the sideline theme could test 114.54/74
USD/JPY remains sidelined around 113.80 so far amidst rising open interest and choppy volume. The idea of further rangebound remains well and sound in the near term, while there is still scope for a test of the 114.54/74 band.
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