Japanese Yen Outlook Remains Bullish
The ratio of long to short positions in the USDJPY stands at 2.00 as nearly 67% of traders are long, according to the FXCM SSI which measures the positioning of thousands of retail traders. Last week, the ratio was at 3.47 as 78% of open positions were long. Retail traders have been selling the USDJPY and short positions are up by 65.4% since last week. The SSI is a contrarian indicator and signals more USDJPY losses.
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