JPY Futures: extra upside not ruled out

Open interest in JPY futures markets increased by around 2.1K contracts on Tuesday, posting the third build in a row. Volume followed suit and rose by around 57K contracts, extending the choppy performance, according to preliminary figures from CME Group.

USD/JPY faces strong support around 107.00

USD/JPY charted a bearish ‘outside day’ on Tuesday amidst rising open interest and volume. That said, further decline cannot be ruled out, with the next support of relevance emerging in the 107.00 neighbourhood.