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