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Open interest in JPY futures markets shrunk by around 3.8K contracts on Tuesday while volume went up by around 42.8K contracts, all according to advanced figures for CME Group.

USD/JPY met support at the 55-day SMA

USD/JPY dropped and rebounded from the 55-day SMA on Tuesday amidst choppy performance in both open interest and volume, leaving the door open for further consolidation while a near term squeeze higher cannot be ruled out.