Japanese yen (CME)
Japanese Yen positioning
Price series: Yen futures (front month) · positions as of Tuesday Sep 15, 2026, published Friday Sep 18, 2026
Priced in USD per yen, so the chart rises when the yen strengthens — the opposite of a USD/JPY quote.
Price and positioning are rising together: the trend is well supported.
price +5.1% · asset managers net position +133,751 (contracts, over 8 weekly reports)
Price vs positioning (contracts)
Price on top, and what the big traders were holding underneath it.
COT Index
0–100 · vs last 3 yearsHow 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.
Near the most bullish this group has been in the window.
Near the most bearish this group has been in the window.
Leaning long, but not yet at an extreme.
Near the most bullish this group has been in the window.
COT Index = ((Current − Min) / (Max − Min)) × 100, over the last 3 years
Method credit: the 0–100 normalization goes back to Larry Williams' COT work in the 1980s and was developed and popularized by Stephen Briese, author of The Commitments of Traders Bible.
Disagreement Index
contracts · index 0–100How far apart two trader groups are right now.
Gap = group A's net position minus group B's, measured in contracts. The Disagreement 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.
The two groups are pulling apart, above their usual range.
Left axis: gap in contracts (positive = Leveraged funds is more net long than Asset managers). Right axis: disagreement 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 Sep 15, 2026, published Friday Sep 18, 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) | 237,951 | 117,592 | 120,359 | +109,563 | 84 |
| Commercial (hedgers) | 149,757 | 274,431 | -124,674 | -110,633 | 19 |
| Asset managers | 118,873 | 65,028 | 53,845 | +54,415 | 68 |
| Leveraged funds | 110,302 | 87,132 | 23,170 | +72,268 | 90 |
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 uptrendJun 9, 2026 → Sep 15, 2026price +2.9% · net position +131,921 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
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.