JPY Futures: remains consolidative near term

Open interest in JPY futures markets dropped for the second session in a row on Thursday, this time by around 3.1K contracts according to flash data from CME Group. Volume, instead, went up for another session, now by around 5.4K contracts.

USD/JPY could test the upper end of the range

The moderate recovery in USD/JPY was accompanied on Thursday by shrinking open interest, removing some strength from the ongoing rebound. However, the uptick in volume could add to the potential case of a move to the 107.00 area in the short-term horizon.