FX.co ★ Speculators Trim Bearish Yen Bets as Net Shorts Narrow to -19.2K

Speculative sentiment toward the Japanese yen turned less negative in the latest reporting period, with CFTC JPY speculative net positions improving from -33.9K to -19.2K. The data, updated on 06 February 2026, indicate that while traders remain net short the yen, bearish positioning has eased notably.

The shift suggests that some market participants are scaling back expectations for further yen weakness, potentially reflecting changing views on interest rate differentials, monetary policy prospects, or broader risk appetite. Although the yen is still being used as a funding currency in global markets, the reduced net short stance points to a more cautious approach among speculators toward aggressively betting against Japan’s currency.