JPY Futures: extra gains remain on the cards

Investors added 1.7K contracts to their open interest positions in JPY futures markets on Tuesday, according to advanced data from CME Group. In the same direction, volume reversed two consecutive drops and increased by nearly 50.2K contracts.

USD/JPY further downside not ruled out

Tuesday’s drop in USD/JPY was on the back of rising open interest and volume in the safe haven JPY, allowing for the continuation of the downtrend in spot, at least in the short-term horizon.