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Advanced figures from CME Group noted open interest in JPY futures markets increased by almost 4.8K contracts on Monday after two consecutive daily drops. Volume, instead, shrunk for the second session in a row, this time by around 76.5K contracts.

USD/JPY should remain consolidative near term

USD/JPY is so far extending the sideline theme around the 200-day SMA in the mid-111.00s. This scenario is seen extending in the short-term horizon against the backdrop of unclear direction in both open interest and volume.