JPY Futures: Weakness looks limited

In light of advanced readings from CME Group, open interest and volume in JPY futures markets shrunk by around 2.6K contracts and by nearly 6.4K contracts, respectively, on Wednesday.

USD/JPY still sees a test of 110.00

USD/JPY managed to regain some ground in the last couple of sessions. Wednesday’s drop in open interest and volume warns against further depreciation of the Japanese safe haven, leaving the upside somewhat capped in the near term.