JPY futures: further upside likely

Open interest in JPY futures markets increased by around 2.1K contracts on Tuesday from Monday’s final 229,688 contracts, according to CME Group. On the other hand, volume decreased by nearly 4.7K contracts.

USD/JPY a test of 114.00 remains in place

Despite the choppy performance in volume as of late, rising open interest could sustain the up move in USD/JPY to the area above the critical barrier at 114.00 the figure in the near term.