JPY Futures: Downside has further legs to go

In light of preliminary readings from CME Group for JPY futures markets, open interest increased for the fifth consecutive session on Thursday, now by nearly 3.9K contracts. Volume, on the other hand, went down by around 32.4 contracts, keeping the erratic performance unchanged.

USD/JPY still seen breaking above 110.00

Rising open interest amidst the ongoing offered bias in the Japanese safe haven should help USD/JPY to break above the key barrier at 110.00 the figure and attempt a visit to YTD highs near 110.20 recorded in mid-January.

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