JPY Futures: rising odds for further decline

CME Group’s flash data for JPY futures markets noted open interest rose by nearly 3.1K contracts on Thursday, extending the erratic performance. In addition, volume reversed the previous drop and also went up by around 60.5K contracts.

USD/JPY now targets the mid-108.00s

USD/JPY has extended the upbeat momentum on Thursday on the back of rising open interest and volume in combination with another session of negative price action in the Japanese safe haven. That said, spot could now challenge the key resistance area around 108.50 in the next weeks.