JPY futures: room for extra downside

Open interest in JPY futures markets rose by almost 10K contracts on Thursday from the previous day, while volume also went up by around 11.6K contracts, offsetting the prior drop.

USD/JPY now looks to 112.00

The upside momentum in USD/JPY was confirmed by rising open interest and volume yesterday, opening the door for extra gains with initial target at the critical 112.00 the figure in the short-term horizon.