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USDJPY-Japanese Yen Forecast to Decline against the US Dollar
Thursday, 16 October 2008 14:19:07 GMT  |  David Rodriguez, Quantitative Analyst
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USD/JPY Ratio: 1.01
Trading Forecast: Bearish

Forex Positioning in the USDJPY

10-16-08-SSI2

USDJPY – Our forex indicator currently forecasts that the US Dollar/Japanese Yen pair could rally through near-term trade, and our SSI-based forex trading signals bought the USDJPY at 100.39.  The ratio of long to short positions in the USDJPY stands at -1.01 as positioning is very near neutral. Yesterday, that same ratio was at 1.24 as 55 percent of open positions were long. In detail, Long positions were effectively unchanged overnight, but short positions are 24.8 percent higher than yesterday The SSI is a contrarian indicator and signals more USDJPY gains. Discuss the USDJPY and other Japanese Yen pairs in the forex forum.

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