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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 and twice every trading day inside DailyFX PLUS.

Yen is Clearly Oversold, but we expect further Weakness

Yen is Clearly Oversold, but we expect further Weakness

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USDJPYRetail FX traders in our proprietary sample remain net-short the USDJPY since it traded above ¥108 through late October. Until we see a lasting shift we’ll maintain our contrarian calls for USDJPY strength.

Trade Implications – JPY Pairs:Crowd positions in both US Dollar and Japanese Yen exchange rates have moderated since last week as major currencies have mostly consolidated. In the USDJPY this leaves the net retail position at a near-neutral 52 percent short—not a strong trading signal by most measures. And yet until we see a sustained shift towards USDJPY-buying we see little reason to abandon our broader US Dollar-bullish and Japanese Yen-bearish trading biases.

See next currency section:AUDUSD - Australian Dollar Targets Fresh Lows

Written by David Rodriguez, Quantitative Strategist for

Yen is Clearly Oversold, but we expect further Weakness

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