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SSI at All-time High, Looking for USDJPY Bottom

SSI at All-time High, Looking for USDJPY Bottom

2012-09-27 18:35:00
Christopher Vecchio, CFA, Senior Strategist
Share:
ssi_usd-jpy_body_Picture_4.png, SSI at All-time High, Looking for USDJPY Bottom

USDJPY The ratio of long to short positions in the USDJPY stands at 19.09 as nearly 95% of traders are long. Yesterday, the ratio was at 19.89 as 95% of open positions were long. In detail, long positions are 2.9% higher than yesterday and 29.8% stronger since last week. Short positions are 7.2% higher than yesterday and 4.9% weaker since last week. Open interest is 3.1% stronger than yesterday and 26.8% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

How do we interpret and trade with the SSI? Watch an FXCM Expo Presentation that explains the SSI.

--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List” to cvecchio@dailyfx.com; Contact Chris via Twitter at http://www.twitter.com/CVecchioFX

Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

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