JPY futures: rangebound trading expected to continue

CME Group’s flash data for JPY futures markets noted open interest dropped by just 339 contracts on Tuesday from Monday’s final 230,051 contracts. Volume, instead, increased by around 46.1K contracts after three consecutive drops.

USD/JPY seen sidelined below 109.00

USD/JPY is prolonging the multi-session sideline theme so far today. Alternating trends in open interest along with a somewhat declining volume should leave the ongoing consolidative stance unchanged in the near term.