USD/JPY Ratio: 2.46
Signal: Bearish
| Currency | Last Week | Present* | % Long | % Change in Positions Outstanding | Signal |
| USDJPY | 1.96 | 2.46 | 71% | 16.23% | Bearish |
USDJPY – Retail positioning in the USDJPY is growing extreme. With the steady decline finally bringing the pair to the intervention-prone 100 level, the ratio has shot up to 2.46 with 71% of traders holding long positions. This is a jump from the 1.98 and 1.96 readings from yesterday and last week respectively. The details highlight the shift in positioning. Long trades have jumped 12.9% from yesterday and are a sharp 39.0% greater than last week. At the same time, profitable bears have cut their exposure to further downside momentum with shorts 8.9% fewer than yesterday and 16.5% weaker than last week. Despite the significance of the 100-level, open interest is only 5.6% stronger than yesterday and 29.8% above its monthly average. Considering the SSI is a contrarian indicator, the USDJPY’s extreme positioning points to an eventual break to the downside.
