JPY Futures: Look neutral/bearish

According to flash prints from CME Group for JPY futures markets, investors increased their open interest positions for the fifth consecutive session on Wednesday, now by around 3.1K contracts. Volume, on the other hand, went down by more than 23K contracts.

USD/JPY looks consolidative below 108.30

USD/JPY extends the consolidative mood so far this week amidst increasing open interest and inconclusive direction in volume. That said, further rangebound is still in the limelight, although the key 200-day SMA in the 108.30 region keeps capping the upside for the time being.