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Advanced data for JPY futures markets from CME Group noted open interest dropped for the third consecutive session on Friday, this time by just 714 contracts. Volume followed suit and decreased by almost 17.9K contracts.

USD/JPY could attempt a squeeze higher

Friday’s negative price action in USD/JPY was in tandem with shrinking open interest and volume in the safe haven JPY, allowing for a reversion of the decline in the short-term horizon. As usual, the Yen will look to headlines from the US-China trade war for direction.