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CME Group’s flash data for JPY futures markets noted open interest dropped by more than 1.5K contracts on Tuesday from Monday’s final 204,890 contracts. In addition, volume shrunk by almost 7.2K contracts, recording the second consecutive drop.

USD/JPY upside could lose some traction

Yesterday’s up move in USD/JPY was in tandem with shrinking open interest and volume, removing some tailwinds from the recent recovery to levels beyond the key 113.00 the figure.