[B]USD[/B][B]/JPYRatio: -1.23
[/B][B]Signal: Bullish[/B]
USDJPY
1.11
[B]-1.23[/B]
45%
-19.33%
Bullish
[B]USDJPY[/B] – Last week’s USDJPY SSI flip back into positive territory turned out to be a temporary reversal. Since last Thursday’s net long reading, speculative sentiment has settled back into negative territory. Today, the index ratio stood at -1.23 with 55% of traders short. This compares to the 1.11 reading from last week and the -1.11 figure from the Thursday before that. From the details, longs were little changed from yesterday - up 1.5% - but had actually plummeted 51% from a week ago. On the other side of the market, shorts have jumped 33.7% from Wednesday and are up a staggering 70.6% from last week. With these considerable shifts in positioning however, open interest was only 12.6% greater than last week and 1.7% above the monthly average. The net short reading, though still modest, may point to a genuine trend change for USDJPY.