JPY futures: declines appear limited

Flash data from CME Group noted investors trimmed their open interest positions by around 7.5K contracts on Tuesday from Monday’s 219,607 contracts. In the same line, volume shrunk by more than 12.8K contracts.

USD/JPY supported near 111.60

The uptick in USD/JPY on Tuesday was in tandem with diminishing open interest and volume, extending the broad downtrend. That said, spot is expected to remain supported around Monday’s lows near 111.60, coincident with the top of the daily cloud.