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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.

US Dollar Clings to Key Support versus Japanese Yen

US Dollar Clings to Key Support versus Japanese Yen

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USDJPY - The ratio of long to short positions in the USDJPY stands at 1.46 as 59% of traders are long. Yesterday the ratio was 1.34; 57% of open positions were long. Long positions are 3.7% higher than yesterday and 6.9% below levels seen last week. Short positions are 4.8% lower than yesterday and 1.4% below levels seen last week. 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. The trading crowd has grown further net-long from yesterday but moderated since last week. The combination of current sentiment and recent changes gives a further mixed trading bias, and whether the pair holds key support at ¥123.50.

See next currency section:AUDUSD - Australian Dollar Likely to Continue Lower

Written by David Rodriguez, Quantitative Strategist for

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