USDJPY - Japanese Yen Likely to Gain as Forex Crowds Buy USDJPY

[DailyFx]

USD/JPY Ratio: 1.25
Trading Forecast: Bearish



Forex Positioning in the USDJPY

USDJPY – Forex positioning in the USDJPY signals that crowds are buying the US dollar against the Japanese Yen—giving signal to go short the USDJPY. The ratio of long to short positions in the USDJPY stands at 1.25 as nearly 56% of traders are long. Given that our SSI is a contrarian indicator is typically contrarian in nature, this would normally forecast that the USDJPY is likely to decline. In detail, long positions are 27.3% higher than yesterday and 66.3% stronger since last week. Short positions are 4.0% higher than yesterday and 4.5% weaker since last week. Open interest is 15.8% stronger than yesterday and 11.8% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses. Discuss the USDJPY and other Japanese Yen pairs in the forex forum.