Japanese Yen Forecast to Strengthen
USDJPY – Currency trading crowds have remained net-long the US Dollar against the Japanese Yen since the pair traded above the 90.00 mark. The ratio of long to short positions in the USDJPY stands at 7.52 as nearly 88% of traders are long. Yesterday, the ratio was at 5.00 as 83% of open positions were long. In detail, long positions are 19.5% higher than yesterday and 40.1% stronger since last week. Short positions are 20.6% lower than yesterday and 42.8% weaker since last week. Open interest is 12.8% stronger than yesterday and 8.1% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.
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