Japanese Yen COT positioning
Leveraged funds are net short 14,817 contracts in Japanese Yen futures as of Nov 3, 2026, with positioning at 73 of 100 within its 52-week range. From the weekly CFTC Commitments of Traders report.
Positions as of Tue, Nov 3, 2026 · published Fri, Nov 6, 2026 · Source: CFTC
Leveraged funds added to their short position over the past week. That leaves positioning at 73 on a 0–100 scale between its 52-week low and high — approaching the stretched end, though not yet at an extreme.
WAVG reads this the same way every week across every market, names the factors behind the bias, and flags when positioning reaches the edge of its 52-week range.
What moves Japanese Yen positioning
The yen is a funding and safe-haven currency, which makes its positioning distinctive: funds are often structurally net short the yen to finance the carry trade (borrow cheap yen, buy higher-yielding assets).
The driver is the rate differential — above all the Bank of Japan, whose slow exit from ultra-loose policy has repeatedly forced funds to cover — and US Treasury yields: when they fall, the gap narrows and the yen tends to firm.
This week's report
| Trader group | Long | Short | Net |
|---|---|---|---|
| Leveraged funds | 82,058 | 96,875 | −14,817 |
| Asset managers | 151,254 | 71,867 | +79,387 |
| Dealers | 28,130 | 151,014 | −122,884 |
Contracts held long, short and net as of Nov 3, 2026 (published Nov 6, 2026). Source: CFTC.
The last 13 weeks
| Week ending | Leveraged funds net | Change | Index (52w) |
|---|---|---|---|
| Aug 11, 2026 | −53,070 | +7,755 | 70 |
| Aug 18, 2026 | −67,971 | −14,901 | 53 |
| Aug 25, 2026 | −77,042 | −9,071 | 43 |
| Sep 1, 2026 | −102,188 | −25,146 | 15 |
| Sep 8, 2026 | −49,098 | +53,090 | 74 |
| Sep 15, 2026 | +23,170 | +72,268 | 100 |
| Sep 22, 2026 | +7,423 | −15,747 | 89 |
| Sep 29, 2026 | −14,161 | −21,584 | 73 |
| Oct 6, 2026 | −25,043 | −10,882 | 65 |
| Oct 13, 2026 | −33,673 | −8,630 | 59 |
| Oct 20, 2026 | −22,890 | +10,783 | 67 |
| Oct 27, 2026 | −14,630 | +8,260 | 73 |
| Nov 3, 2026 | −14,817 | −187 | 73 |
Net position of leveraged funds at each weekly reporting date, the change from the week before, and the COT index for that week. The index compares a week against this market’s own 52-week range: 0 is the low end of that range, 100 the high end — a high reading is not the same as a long position. Source: CFTC.
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