JPY Futures: Scope for extra gains

Investors extended the uptrend in open interest in the JPY futures markets on Monday, adding around 4.3K contracts according to advanced prints from CME Group. In the same line, volume went up by almost 12K contracts, prolonging the choppy activity.

USD/JPY focused on the downside

USD/JPY’s decline at the beginning of the week was amidst rising open interest and volume, opening the door for the continuation of the leg lower to levels below the monthly lows in the 107.00 neighbourhood in the short-term horizon.