Number of traders net-short has decreased by 18.65% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.88% |
49.12% |
78.57%
38.38% |
-19.20%
-18.65% |
12.01%
2.93% |
EUR/JPY: Retail trader data shows 50.88% of traders are net-long with the ratio of traders long to short at 1.04 to 1. In fact, traders have remained net-long since Jan 19 when EUR/JPY traded near 126.12, price has moved 1.10% higher since then. The number of traders net-long is 78.57% higher than yesterday and 38.38% higher from last week, while the number of traders net-short is 19.20% lower than yesterday and 18.65% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/JPY prices may continue to fall.
Our data shows traders are now net-long EUR/JPY for the first time since Jan 19, 2021 when EUR/JPY traded near 126.12. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bearish contrarian trading bias.
