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Open interest in JPY futures markets rose by almost 4K contracts on Friday vs. Thursday’s final 256,113 contracts, according to flash data from CME Group. Volume, instead, shrunk by around 29.3K contracts.

USD/JPY rally on-hold for now

The rally that took USD/JPY top fresh tops above 114.00 the figure appears to have entered into a consolidative phase for the time being. Friday’s retracement was against the backdrop of rising open interest and a drop in volume and could hint at the likeliness that some rangebound is in the offing.