Japanese Yen Remains in Control versus US Dollar

USDJPY – Heavily one-sided retail FX trader sentiment points to further US Dollar weakness versus the resurgent Japanese Yen.

Trade Implications – JPY Pairs: Our retail trader sample shows total long positions in the USDJPY outnumber those short by over 2 to 1—the most extreme sentiment we’ve seen since the pair set an important low near 101 in July, 2014. One-sided positioning often coincides with important price reversals, but sentiment extremes are only clear in hindsight.

Indeed the Yen remains the top-performing currency in 2015, and our sentiment data suggests it may continue higher versus the US Dollar (USDJPY lower) and other major counterparts before any meaningful turnaround. 

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