Japanese Yen Forecast to Rally Against US Dollar
USDJPY – The ratio of long to short positions in the USDJPY stands at 3.10 as nearly 76% of traders are long. Yesterday, the ratio was at 2.27 as 69% of open positions were long. In detail, long positions are 0.2% lower than yesterday and 8.7% stronger since last week. Short positions are 26.9% lower than yesterday and 35.2% weaker since last week. Open interest is 8.4% weaker than yesterday and 20.9% below its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses. Indeed, three of our SSI-based trading strategies are currently short the USDJPY.
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