USD/JPY Ratio: -1.03
Signal: Bullish
| Currency | Last Week | Present* | % Long | % Change in Positions Outstanding | Signal |
| USDJPY | -1.18 | -1.03 | 49% | -21.71% | Bullish |
USDJPY – Retail speculative positioning in USDJPY continues to hover close to parity. However, not only are traders split on the direction of the yen-based pair; but net positioning has also tumbled as speculators have grown weary of the long period of congestion. Today, the USDJPY’s SSI reading stood at -1.03 after a steep drop in shorts pulled the indicator back from last week’s -1.18 level. From the details, we can see that long positions have slipped 15.7% from Wednesday and are 16.6% weaker than last week. Activity was just as elevated on the short side as traders added 8.6% yen-long positions to their portfolios, though this was not a large enough jump to compensate for the 26.1% drop from last week’s level. With the USDJPY having been range bound for four weeks now, retail traders are moving to the sidelines to wait for a clear sign for direction. Open interest has dropped 23.9% from last week and is 10.7% below the monthly average.
