JPY futures: rally has further wings

CME Group’s flash figures for JPY futures markets noted open interest rose for the seventh session in a row on Tuesday, this time by around 12.4K contracts vs. Monday’s final 226,971 contracts. In addition, and after two consecutive drops, volume increased by more than 58.1K contracts.

USD/JPY now looks to 113.00

USD/JPY is up for the second consecutive session on Wednesday, prolonging the rally beyond 112.00 the figure after bottoming out in the 110.40 area earlier in the month. Tuesday’s up move was on the back of rising volume and open interest, a bullish sign that allows for a probable test of July’s top above the 113.00 mark.