Cot 03/09

[B]JPY:[/B] Speculators are net long Yen and commercials net short Yen.


However, the 13 week index is at 0. This indicates that commercials are the longest they have been in 13 weeks and speculators the shortest they have been in 13 weeks. This is bullish for the Yen.

[B]Implications:[/B] bullish (bearish USDJPY)