JPY futures: scope for further recovery

In view of flash data for JPY futures markets from CME Group, investors scaled back their open interest positions by almost 2K contracts on Tuesday from Monday’s final 207,883 contracts. Volume, instead, rose by nearly 89.5K contracts.

USD/JPY looks to break above the consolidation

USD/JPY remains supported by recent lows in the 111.60 region. Yesterday’s bounce off lows amidst rising volume and an irrelevant activity in open interest allows for a probable move higher and a breakout of the prevailing consolidative theme.