Dollar/Yen exchange rate A delicate position of speculative traders

 Just in case, the market is not determined by the positions of speculative traders.
Speculative traders’ position trends are only a reference. You need to be careful not to follow them blindly.
In the first place, those speculative traders often chase the market afterwards. And they frequently make mistakes.

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The positions of speculative traders in USD/JPY are as follows.
At the moment, they are somewhat against the market movement, making them less useful as a forecast reference.

The non-commercial sector refers to speculative traders (not pension funds, but hedge funds, etc.).

On the other hand, the movements of small speculators (mostly individuals) seem to be looking at a weaker yen, unlike speculative traders.

(Note) The non-reporting sector mainly refers to small-scale speculators.

In the end, while speculative traders are reducing positions due to uncertainty about the market’s outlook, small speculators seem to be leaning toward a slightly weaker yen in anticipation of higher interest rates or higher crude oil prices.
Neither side seems to be taking a firm, decisive action.