USDJPY - The ratio of long to
short positions in the USDJPY stands at 1.40 as 58% of traders are
long. Yesterday the ratio was 1.49; 60% of open positions were long.
Long positions are 0.8% lower than yesterday and 14.6% below levels seen
last week. Short positions are 5.2% higher than yesterday and 16.7%
above levels seen last week. Open interest is 1.6% higher than yesterday
and 8.5% below its monthly average. We use our SSI as a contrarian
indicator to price action, and the fact that the majority of traders are
long gives signal that the USDJPY may continue lower. The trading crowd
has grown less net-long from yesterday and last week. The combination
of current sentiment and recent changes gives a further mixed trading
bias.
