CFTC Commitments of Traders: Yen bets still on, but not many

Forex futures market positioning data as of the close of the market on Tuesday, November 22, 2016
– EUR 119K short vs 119K short last week.  Unchanged on the week.
The surprise is that there’s anyone left betting on yen strength at all. It takes a lot of stomach to swallow 1000 pips in the wrong direction in two weeks. The flipside is that there is plenty of room for the market to pile into yen shorts and drive USD/JPY higher.