JPY futures: consolidation appears on the cards

Open interest in JPY futures markets dropped for the sixth consecutive session on Monday by nearly 1.5K contracts vs. Friday’s final 193,095 contracts, according to flash data from CME Group. Volume, too, shrunk for yet another session, this time by around 17.4K contracts.

USD/JPY could attempt to consolidate near 110.00

USD/JPY clinched fresh 2019 highs on Monday above 110.00 the figure amidst shrinking open interest and volume. That said, some consolidation appears likely in the near term while bouts of JPY strength are not ruled out.