The SSI is a contrarian indicator issued by Daily Forex to identify the most probable trend in Forex trading for a given Forex pair; in the pair USD/JPY the majority of traders are long and this gives signal that the USD/JPY may continue lower. The trading crowd has grown further net-long from yesterday and last week; the combination of current sentiment and recent changes gives a further bearish trading bias.
The ratio of long to short positions in the USD/JPY stands at 2.50, which means that 71% of traders are long. Yesterday the ratio was 2.42, that is 71% of open positions were long. Long positions are 2.4% lower than yesterday and 4.5% below levels seen last week. Short positions are 5.7% lower than yesterday and 25.4% below levels seen last week. Open interest is 3.3% lower than yesterday and 7.8% below its monthly average.
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