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DailyFX Home / Forex Technical Analysis / Speculative Sentiment Index

SSI: The Speculative Sentiment Index

Symbol LastWeek Present %Long Change:
Open Interest
Signals Chart Links

The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.


One-sided Sentiment Points to Dollar Weakness, Yen Strength

One-sided Sentiment Points to Dollar Weakness, Yen Strength

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

USDJPY A recent shift towards retail FX crowd buying acts as contrarian signal that the USDJPY may continue lower.

The ratio of long to short positions in the USDJPY stands at 1.87 as 65% of traders are long. Yesterday the ratio was 1.92; 66% of open positions were long. Long positions are 2.1% lower than yesterday and 20.2% above levels seen last week. Short positions are 0.3% higher than yesterday and 13.6% below levels seen last week. Open interest is 1.3% lower than yesterday and 3.2% 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.

See next currency section:AUDUSD - Australian Dollar Forecast Unclear

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

One-sided Sentiment Points to Dollar Weakness, Yen Strength

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