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According to advanced data from CME Group for JPY futures, both open interest and volume went down by nearly 13.9K contracts and by around 60.3K contracts, respectively, on Tuesday.

USD/JPY does not discard a move to 100.00

The noticeable rebound in USD/JPY was fuelled by short covering on Tuesday, as suggested by declining open interest and volume. Against this, further upside appears unsustainable for the time being, while a resumption of the leg lower and a probable move to the 100.00 level should not be surprising in the short-term horizon.

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