JPY futures: room for extra gains

Flash figures from CME Group for JPY futures markets noted open interest shrunk by just 568 contracts on Tuesday, while volume increased for the second session in a row, this time by nearly 31.8K contracts.

USD/JPY still capped by 112.00

The up move in USD/JPY tested the key 200-day SMA near 111.50, although shrinking open interest and volume could remove some momentum from JPY weakness and drag spot lower in the near term.