JPY Futures: room for extra consolidation

In light of advanced data for JPY futures markets from CME Group, open interest rose by a meagre 49 contracts on Wednesday after two drops in a row. In the same line, volume went up by around 27.3K contracts, reversing four consecutive pullbacks.

USD/JPY remains within a consolidative phase

USD/JPY keeps consolidating below the 109.00 area amidst a marginal uptick in open interest and a moderate increase in volume. That said, the continuation of the ongoing sideline theme looks the most likely scenario in the short-term horizon amidst the erratic performance in both open interest and volume.