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Japanese Yen Expected to Appreciate Further

By , Currency Analyst  and , Currency Strategist
16 June 2011 18:28 GMT
ssi_usd-jpy_body_USDJPY.png, Japanese Yen Expected to Appreciate Further

USDJPY – Forex trading crowd positioning has continued to remain net long, albeit slightly off of last week’s SSI ratio of long to short positions of 5.80. Still, with the pair trading slightly to the upside, the ratio of long to short positions in the USDJPY stands at 4.05 as nearly 80% of traders are long. Yesterday, the ratio was at 3.24 as 76% of open positions were long. In detail, long positions are 3.2% higher than yesterday and 3.3% weaker since last week. Short positions are 17.5% lower than yesterday and 23.6% stronger since last week. Open interest is 1.7% weaker than yesterday and 97.2% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

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16 June 2011 18:28 GMT