JPY futures: odds for a move lower

Open interest in JPY futures markets rose by more than 2.1K contracts on Tuesday, recording the second build in a row. In the same line, volume reverted two consecutive drops and went up by around 19.7K contracts.

USD/JPY could see a test of 112.00

Yesterday’s rebound in USD/JPY from daily lows was on the back of rising open interest and volume, opening the door for a potential move higher with initial target at the 112.00 neighbourhood.