[B]USD/JPY ratio: 1.01
Trading Forecast: Bearish[/B]
[B]USDJPY – [/B]Our SSI-based trading strategies are effectively flat the USDJPY, with strategies both long and short the US Dollar against the Japanese Yen. The ratio of long to short positions in the USDJPY stands at 1.01 as long and short orders are nearly neutral. Yesterday, the ratio was at 1.90 as 66% of open positions were long. In detail, long positions are 15.4% lower than yesterday and 21.8% weaker since last week. Short positions are 59.0% higher than yesterday and 34.7% stronger since last week. Open interest is 10.2% stronger than yesterday and 14.0% above its monthly average. The surge in short orders tell us that crowds are selling into USDJPY rallies—giving us contrarian signal to go in the opposite direction and buy the currency pair.