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CME Group’s advanced readings for JPY futures markets noted open interest decreased for the second consecutive session on Wednesday, this time by nearly 1.9K contracts. On the other hand, volume rose once again by more than 3.6K contracts.

USD/JPY could see some rebound near term

USD/JPY has found decent support in the 111.00 neighbourhood yesterday. The daily down move was on the back of shrinking open interest and an uptick in volume, hinting at the likeliness that a recovery in spot looks likely in the short-term horizon.