USD/JPY Ratio: -1.81 Signal: Bullish
USDJPY – The USDJPY SSI reading gave a signal to go long the pair at 105, and the US dollar has gone on to gain over 400 pips in less than a month. The ratio of long to short positions in the USDJPY stands at -1.82 as nearly 65% of traders are short. Today’s reading is a good deal more extreme than what we saw last week; long positions fell 19.9 percent while shorts gained 8.6 percent. All the while, open interest on the USDJPY now stands 7.9 percent above its monthly average. Forex positioning gives us signal that the USDJPY may continue to gain through the short term. Visit our Japanese Yen Technical Outlook for more.