What is the Japanese Yen COT report?

It is the weekly CFTC Commitments of Traders breakdown for Japanese yen (CME): how many long and short futures contracts each group of large traders held as of the prior Tuesday, published the following Friday.

How do you read Japanese Yen net positioning?

Net position is long contracts minus short contracts for one trader group. A positive net means the group leans bullish; the weekly change matters more than the raw level.

What does the Japanese Yen COT index mean?

The COT index rescales a group's net position 0-100 against its own high and low over the chosen lookback. Above 80 is close to the most bullish that group has been; below 20 is close to the most bearish.

What is a bearish divergence in Japanese Yen?

A bearish divergence is Yen futures (front month) making new highs while the tracked trader group reduces its net long position — the rally is losing the sponsorship of the money that usually drives it.

Japanese yen (CME)

Japanese Yen positioning

Price series: Yen futures (front month) · positions as of Tuesday Jul 28, 2026, published Friday Jul 31, 2026

Last weekly close · Yen futures (front month)

0.006301

Asset managers net position (contracts)

-83,057

Priced in USD per yen, so the chart rises when the yen strengthens — the opposite of a USD/JPY quote.

No signalJun 2, 2026 → Jul 28, 2026 · 8-week window

Neither price nor positioning has moved enough this window to say anything.

Price vs positioning (contracts)

Price on top, and what the big traders were holding underneath it.

Price — Yen futures (front month)

Net position (contracts) — Net position = long contracts minus short contracts. Above the zero line = net long.

Signal classification tracks bullish divergencebearish divergenceconvergence (healthy trend)

COT Index

0–100 · vs last 3 years

How extreme today's positioning is compared with this group's own history.

Each group's current net position, rescaled 0–100 against its own high and low over the selected lookback. 0 = most bearish it has been in that window, 100 = most bullish. Unitless by design, so markets of very different sizes can be compared.

Non-commercial (large specs)6 · stretched short

Near the most bearish this group has been in the window.

Commercial (hedgers)91 · stretched long

Near the most bullish this group has been in the window.

Asset managers7 · stretched short

Near the most bearish this group has been in the window.

Leveraged funds9 · stretched short

Near the most bearish this group has been in the window.

0 · most bearish50 · mid-range100 · most bullish

COT Index = ((Current − Min) / (Max − Min)) × 100, over the last 3 years

Asset managers — COT index history (0–100, rolling 3 years window)

Gap & Gap Index

contracts · index 0–100

How far apart two trader groups are right now.

Gap = group A's net position minus group B's, measured in contracts. The Gap Index rescales that difference 0–100 against its own last 3 years: 0 = the two groups as close together as they get, 100 = as far apart as they get.

Gap Index · vs last 3 years

The two groups are pulling apart, above their usual range.

Current gap (contracts)

-18,933 contracts

Left axis: gap in contracts (positive = Leveraged funds is more net long than Asset managers). Right axis: gap index, 0–100. Gap tracks Leveraged funds − Asset managers.

Latest week by category

What each trader group was holding in the most recent report.

Positions as of Tuesday Jul 28, 2026, published Friday Jul 31, 2026, compared with the prior weekly report. Positive net = net long; negative net = net short. COT index is measured over the last 3 years.

Category	Long (contracts)	Short (contracts)	Net (contracts)	Weekly change (contracts)	COT index (0–100, 3y)
Non-commercial (large specs)	101,271	264,683	-163,412	-11,287	6
Commercial (hedgers)	266,180	108,155	158,025	+3,127	91
Asset managers	70,643	153,700	-83,057	-3,151	7
Leveraged funds	76,752	178,742	-101,990	-5,805	9

Signal log — Asset managers

Every past signal in this market, and what price did afterwards.

Every rolling 8-week window classified as a bullish or bearish divergence, or as convergence where price and positioning agree. Price change is in percent; net change is in contracts.

Each row covers one stretch of weekly reports: the % is the price change over that stretch, the net figure is the change in the group's net position, in contracts.

Convergence — healthy downtrendApr 28, 2026 → Jul 21, 2026price -4.1% · net position -53,356 contracts
Bearish divergenceMar 10, 2026 → May 5, 2026price +1.9% · net position -13,427 contracts
Convergence — healthy downtrendJan 20, 2026 → Apr 21, 2026price -2.2% · net position -32,128 contracts
Bearish divergenceDec 16, 2025 → Feb 10, 2026price +2.7% · net position -33,229 contracts
Convergence — healthy downtrendOct 21, 2025 → Jan 6, 2026price -3.3% · net position -35,161 contracts
Bullish divergenceOct 14, 2025 → Dec 9, 2025price -3.8% · net position +9,474 contracts
Convergence — healthy downtrendSep 23, 2025 → Nov 18, 2025price -4.4% · net position -8,090 contracts
Bullish divergenceSep 16, 2025 → Nov 10, 2025price -4.5% · net position +7,040 contracts
Convergence — healthy downtrendSep 9, 2025 → Nov 4, 2025price -3.9% · net position -7,863 contracts
Bullish divergenceAug 12, 2025 → Oct 28, 2025price -4.3% · net position +25,602 contracts
Convergence — healthy downtrendApr 22, 2025 → Aug 26, 2025price -2.4% · net position -44,798 contracts
Convergence — healthy uptrendDec 10, 2024 → May 27, 2025price +7.0% · net position +108,890 contracts

Source: CFTC Commitments of Traders — positions as of Tuesday, published the following Friday. All position figures are futures contracts unless the % of open interest view is selected. Positioning is a sentiment tool, not a timing signal. Not investment advice.