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In light of advanced data for JPY futures markets from CME Group, open interest rose for the third session in a row on Thursday, this time by around 3.2K contracts. In the same line, volume extended the uptrend and increased by around 20.7K contracts.

USD/JPY a move above 112.00 is on the cards

USD/JPY saw its upside quickly accelerated in the last couple of sessions. The backdrop of rising open interest and volume favours extra retracements in the Japanese safe haven, thus opening the door for the pair’s move further north of the 112.00 mark in a more sustainable fashion.

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