Open interest in JPY futures markets dropped by more than 1K contracts on Tuesday from 187,401 contracts seen at the beginning of the week, according to flash data from CME Group. On the other hand, volume rose for another session, this time by around 13.1K contracts.
USD/JPY faces strong resistance beyond 111.00
USD/JPY remains on the defensive after hitting fresh 2019 tops beyond 111.00 the figure on Monday. Yesterday’s down tick was on the back of further choppiness in open interest and another build in open interest, which should leave the outlook on the Japanese safe haven neutral in the near term, although extra gains cannot be ruled out.
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