JPY futures: scope for extra gains

Flash data for JPY futures markets from CME Group noted investors added more than 1.4K contracts on Tuesday from Monday’s final 205,886 contracts, recording the second consecutive build. Volume followed suit, up by nearly 54.5K contracts after two drops in a row.

USD/JPY should be contained at the 200-day SMA

The gradual decline in USD/JPY as of late was in tandem with rising open interest and volume in the safe haven JPY, allowing for the continuation of the current trend for the time being.