SSI Signals More Strength in USD/JPY

Historical Charts of Speculative Positioning




The ratio of longs to shorts in the EUR/USD is -1.06, which is within the extreme +/- 3 range.  The ratio has been flipping back and forth over the past week as the currency pair remains very much range bound.  The ratio is presently very close to parity, which means that there is little direction that can be garnered from the SSI at the moment.  However the small negative bias in the ratio does give the EUR/USD a slightly more positive outlook.  Total positions over the past week are lower by 6 percent as traders cut both long and short positions.  Short positions are down by 5.3 percent while long positions are down by 6.7 percent. 




The ratio of longs to shorts in the GBP/USD is 1.02, which is within the extreme +/- 3 range.  Like the EUR/USD, the GBP/USD ratio has also been flipping back and forth which is indicative of range bound conditions.  The ratio is at parity, which provides little directional indication of where the currency pair could be headed.  Total positioning has also remained unchanged, as short positions rise by 9 percent and long positions fall by 7.6 percent. 





The ratio of longs to shorts in USD/CHF is 1.85, which is within the extreme +/- 3 range.  The ratio has now remained net long for the past three weeks.  During that same time, USD/CHF has sold off by 200 points.  In the past week, the currency pair is only slightly lower, having moved from 1.2315 to 1.2290.  Total positions have increased modestly by 6.7 percent with long positions down by 3 percent and short positions up by 32 percent. 





The ratio of longs to shorts in USD/JPY was -1.66, which is within the extreme +/- 3 range.  Although the ratio flipped back and forth during the week, the inter-week activity proved to be nothing more than mere noise as positions ended the week net short.  This has coincided with continued strength in USD/JPY with the ratio signaling more to come. Over the past few months, the USD/JPY SSI has increased significantly in accuracy which lends more validity to the present signal.  Total positions have increased 8.8 percent thanks to a 20 percent rise in short positions which helped to offset a 6.3 percent fall in long positions.