JPY Futures: room for a correction higher

In light of advanced figures for JPY futures markets from CME Group, open interest shrunk by more than 2k contracts after three consecutive builds. In addition, volume retreated by around 48.9K contracts, prolonging the choppy performance.

USD/JPY faces strong resistance near 109.00

USD/JPY is navigating fresh 2-week highs in the vicinity of 108.80. However, shrinking open interest and volume warns against the continuation of the up move in spot, opening the door for some weakness in the short-term horizon.