JPY futures: consolidative near term

CME Group’s flash data for JPY futures markets noted open interest rose for another session, albeit by only 554 contracts on Monday from Friday’s final 229,524 contracts. Volume declined for the third straight session, this time by around 13.7K contracts.

USD/JPY further rangebound likely

Declining volume and an almost muted activity in open interest should leave the consolidative scenario unchanged for USD/JPY, at least in the short-term horizon.