Japanese Yen Forecast to Pull Back against USD
USDJPY – The ratio of long to short positions in the USDJPY stands at 1.68 as nearly 63% of traders are long. Yesterday, the ratio was at 1.71 as 63% of open positions were long. In detail, long positions are 1.7% higher than yesterday and 22.5% weaker since last week. Short positions are 3.5% higher than yesterday and 15.4% stronger since last week. Open interest is 2.3% stronger than yesterday and 0.5% below its monthly average. The slow build in short positions gives us a modestly bullish contrarian bias.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.