JPY Futures: Extra gains still on the cards

Investors increased their open interest positions for yet another session on Tuesday, this time by around 3.3K contracts and in light of advanced figures from CME Group. in the same direction, volume went up by almost 7.4K contracts.

USD/JPY now looks to 105.00

Tuesday’s drop in USD/JPY was accompanied by rising open interest and volume in the Japanese safe haven, suggesting that further gains in the currency is a tangible chance in the short-term horizon. That said, further downside in the pair is therefore expected, with the initial target in the 105.00 neighbourhood.