News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • The S&P 500 paused a record rally amid weakness in the technology sector. Profit-taking activities appeared to be gathering pace as traders awaited corporate earnings. The US Dollar fell to a six-week low. https://www.dailyfx.com/forex/market_alert/2021/04/20/SP-500-Index-Falls-as-Tech-Retreats-Nikkei-225-and-ASX-200-May-Follow-Lower.html https://t.co/sPu0KKaqLw
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-20
  • Update on #Cryptocurrencies #BITCOIN -3.34% #BITCOINCASH -13.38% #ETHEREUM -7.21% #RIPPLE -16.38% #LITECOIN -11.05% #DOGECOIN +9.09%
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePT7Yu8 https://t.co/YBisCdODkL
  • Wow. Paleontologists estimate that 2.5 billion T Rexes existed in all of time. It's estimated that 108 billion humans have existed thus far. Let's see if Elon Musk fancies himself John Hammond to balance those numbers
  • EUR/USD and GBP/USD are both testing resistance levels of note, with Cable putting in a massive move to start the week. Get your market update from @JStanleyFX here:https://t.co/hUpHKARmBt https://t.co/kF1Xvf8x2U
  • 10 out of 11 S&P 500 sectors ended lower, with 66.9% of the index’s constituents closing in the red. Consumer discretionary (-1.14%) and information technology (-0.88%) were among the worst performers, whereas real estate (+0.29%) registered a small gain. https://t.co/BhAokfrkcH
  • What are some key takeaways for trading gold? Get your free insight here: https://t.co/lnxaQOsgid https://t.co/uc8ptamQ72
  • RT @KyleR_IG: With the @RBAInfo meeting minutes today, I had a look at a few $AUD/USD correlations. It's clearly been a commodity price an…
  • The US Dollar is looking increasingly vulnerable to ASEAN FX, with USD/SGD and USD/THB breaching key support. USD/IDR is eyeing a Rising Wedge, USD/PHP may face February lows. Get your $USD market update from @ddubrovskyFX here:https://t.co/7rSQztIR8z https://t.co/PUNeByV2Ls
Japanese Yen Sentiment at Extremes – What’s Next?

Japanese Yen Sentiment at Extremes – What’s Next?

David Rodriguez, Head of Product
Japanese Yen Sentiment at Extremes – What’s Next?

Why and how do we use the SSI in trading? View our video and download the free indicator here

USDJPY– Retail FX traders remain very heavily net-long the US Dollar versus the Japanese Yen, and a contrarian view of ‘crowd’ sentiment leaves us firmly in favor of selling into weakness. Indeed, our data now shows a significant 80 percent of all open USD/JPY positions are long.

The ratio of long to short positions now matches multi-year extremes set as the pair set key lows near ¥100. This in itself suggests we may be in the midst of a similarly significant sentiment extreme. And yet by definition ‘the extreme’ is only clear in hindsight.

Until we see a substantive swing in retail FX positioning we see little reason to abandon our USD/JPY-bearish trading bias.

See next currency section:XAUUSD - Gold Price Once Again set to Shine

Written by David Rodriguez, Senior Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES