Open interest in JPY futures markets rose by around 2.7K contracts on Thursday vs. Friday’s final 189,466 contracts, according to flash data from CME Group. In addition, volume reverted the previous drop and rose by almost 17.8K contracts.
USD/JPY still eyes a test of 112.00 and above
USD/JPY has tested and rebounded from the mid-110.00s on Thursday on the back of rising open interest and volume, all indicative that a probable recovery lies ahead. That said, early August’s tops beyond 112.00 the figure should come to the fore if the up move gathers traction.