USDJPY – A sharp jump in US Dollar/Japanese Yen short positions has left our speculative sentiment index net-short the USDJPY for the first time since April—giving contrarian signal to go long the USDJPY. The ratio of long to short positions in the USDJPY stands at 1.00 as nearly 50% of traders are long. Yesterday, the ratio was at 1.22 as 55% of open positions were long. In detail, long positions are 3.9% higher than yesterday and 33.2% stronger since last week. Short positions are 26.5% higher than yesterday and 61.3% stronger since last week. Open interest is 14.1% stronger than yesterday and 34.1% above its monthly average. The sharp week-over-week gain in short interest gives contrarian signal to go long the USDJPY.
