Japanese Yen Outlook Clouded by Crowd Indecision
USDJPY – The ratio of long to short positions in the USDJPY stands at 3.20 as nearly 76% of traders are long. Yesterday, the ratio was at 4.37 as 81% of open positions were long. In detail, long positions are 12.7% lower than yesterday and 18.5% weaker since last week. Short positions are 19.3% higher than yesterday and 34.0% stronger since last week. Open interest is 6.8% weaker than yesterday and 0.9% below its monthly average. The sudden build in short positions moderates our bearish bias, but an SSI ratio of 3.2 suggests that the pair may continue to decline through the foreseeable future.
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