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Flash data for JPY futures markets noted investors scaled back their open interest positions by nearly 3.5K contracts on Monday vs. Friday’s final 223,468 contracts. Volume, instead, decreased sharply by almost 100K contracts, adding to Friday’s important build.

USD/JPY next stop 113.00?

USD/JPY‘s pullback on Monday was in tandem with the persistent build in open interest while volume dropped significantly for the second consecutive day. The broader up move in past sessions is poised to continue against the current backdrop of rising open interest. However, the sharp drop in volume could spark some consolidation ahead of further gains in the near term.

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