CFTC Forex Futures report: JPY shorts jump but USD longs loosen elsewhere

The Commitment of Traders net speculative positions report from the CFTC as of Tuesday 13 November 2018

JPY -102k vs -89k prior
EUR -37k vs -47k prior
GBP -47k vs -57k prior
AUD -60k vs -66k prior
NZD -21k vs -26k prior
CAD -3k vs -3k prior
CHF -19k vs -20k prior
BTC -163 vs -210 prior
S&P 2202 vs 2096 prior
US10 -333k vs -539k prior

USDJPY longs got a bit of a bloody nose this week. The 113.60-114.00 range was looking solid but the floor fell out of it yesterday and today. A big change in bond shorts too and that’s been reflected in the falling yield. If 10’s go back under 3% we could see some real fireworks both there and in USD. Is the market finally coming to the realisation that the Fed might actually slow hikes or be near the end of their cycle?