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According to advanced figures for JPY futures markets from CME Group, open interest shrunk for yet another session on Monday, now by just 811 contracts. In the same line, volume reversed two consecutive daily builds and dropped by around 41.7K contracts.

USD/JPY faces next hurdle at the 200-day SMA

USD/JPY edged higher on Monday after tensions in the Middle East offered some respite to investors. However, the selling bias in the Japanese safe haven was amidst diminishing open interest and volume, suggesting that extra depreciation looks somehow limited for the time being. That said, the pair is likely to find strong resistance around 108.65, where sits the key 200-day SMA.