USDJPY - The ratio of long to short positions in the USDJPY stands at 1.02 as 51% of traders are long. Yesterday the ratio was 1.11; 53% of open positions were long. Long positions are 2.3% lower than yesterday and 14.5% below levels seen last week. Short positions are 6.1% higher than yesterday and 49.5% above levels seen last week. Open interest is 1.7% higher than yesterday and 0.6% above 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.
