JPY Futures: neutral/bearish near term

According to advanced figures for JPY futures markets from CME Group, open interest shrunk by more than 3K contracts on Friday, while volume rose moderately by around 35.2K contracts.

USD/JPY could attempt a test of 109.00

USD/JPY met decent support in sub-108.00 levels in past sessions. Declining open interest in the Japanese safe haven could add to some upside momentum in spot with initial target at the 109.00 neighbourhood.