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CME Group’s flash data for JPY futures markets saw open interest and volume shrinking by 403 contracts and around 27.6K contracts, respectively on Monday.

USD/JPY faces strong resistance at 112.00

The gradual up move in USD/JPY remains in place for the time being, although declining open interest and volume warns against extra gains in the near term. That said, the key 112.00 handle emerges as a tough barrier.