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Flash data for JPY futures markets from CME Group noted open interest rose by almost 3.5K contracts on Monday from Friday’s 184,214 contracts. Volume extended the choppy activity and went up by around 14.3K contracts.

USD/JPY could re-test 111.00

The better tone in the riskier assets in combination with rising open interest and volume leaves the door open for the continuation of the upside momentum in USD/JPY to, initially, the 111.00 handle in the short-term horizon.