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Open interest in JPY futures markets dropped by just 390 contracts on Monday vs. Friday’s final 203,100 contracts, according to flash data from CME Group. Volume followed suit, down by nearly 90.8K contracts.

USD/JPY a test of 114.00 remains on the cards

USD/JPY is prolonging the upside for the third session in a row, although the recent drop in volume and open interest allows for some near term correction. The probable test of the 114.00 neighbourhood still appears in the pipeline.