Investing.com - The Investing.com weekly sentiment index published on Monday revealed that market players increased their bearish bets on the yen in the week ending June 27.
According to the data, 72.5% of market participants held long positions in USD/JPY as of last week, up from 60.4% a week earlier. A figure above 70% indicates overbought conditions.
Meanwhile, 39.8% held long positions in EUR/USD, compared to 36.1% in the preceding week, while 40.2% of investors were long in GBP/USD, down from 46.8% a week earlier.
Elsewhere, 62.8% of investors were long USD/CHF, up from 49.8% in the preceding week.
Amongst the commodity-linked currencies, 58.7% were long USD/CAD, down from 64.3% a week earlier, 53.5% held long positions in AUD/USD, compared to 53.7% in the preceding week, while 34.1% were long NZD/USD, up from 31.7% a week earlier.
In the commodities market, 69.6% of market players held long positions in gold, compared to 60.3% a week earlier.
According to the report, 28.6% of market participants held long positions in the S&P 500 last week, up from 27.7% in the previous week. A reading below 30% indicates oversold conditions.
The Investing.com series of indexes is developed in-house. Each index measures overall exposure to major currency pairs, commodities and indexes, using data from futures exchanges and OTC providers on all long and short open positions.
A reading between 50% and 70% is bullish for the instrument, while a reading between 30% and 50% is bearish.