Japanese Yen Forecast to Fall Further
USDJPY – The ratio of long to short positions in the USDJPY stands at -1.13 as nearly 53% of traders are short. Yesterday, the ratio was at -1.45 as 59% of open positions were short. In detail, long positions are 9.8% higher than yesterday and 21.7% weaker since last week. Short positions are 14.8% lower than yesterday and 56.0% stronger since last week. Open interest is 4.8% weaker than yesterday and 0.6% above its monthly average. The SSI is a contrarian indicator, and the crowd’s recent flip to net-short gives contrarian signal to go long the USDJPY.
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