FX.co ★ Yen Bears Ease Off: CFTC Data Shows Slight Covering of JPY Short Positions

Speculative traders have trimmed their bearish bets on the Japanese yen, according to the latest Commitments of Traders (CFTC) data released on 17 April 2026. Net speculative positions in JPY improved to -83.2K from a previous -93.7K, indicating a modest reduction in short exposure.

While positioning remains firmly in negative territory—signaling that market participants still broadly favor selling the yen—the narrowing of net shorts suggests some reassessment of the currency’s downside. The shift may reflect growing caution among speculators after an extended period of yen weakness, as well as sensitivity to potential policy signals and global rate expectations.

For investors and traders, the move is incremental rather than decisive, but it underscores that the extreme bearish consensus on the yen is showing early signs of easing, with speculative sentiment becoming slightly less one-sided than in prior weeks.