00 GMT when EUR/JPY traded near 116.33.

Number of traders net-short has increased by 13.19% from last week.

EUR/JPY: Retail trader data shows 49.10% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since May 04 when EUR/JPY traded near 116.33, price has moved 0.27% lower since then. The number of traders net-long is 22.27% lower than yesterday and 9.18% lower from last week, while the number of traders net-short is 61.14% higher than yesterday and 13.19% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/JPY prices may continue to rise.

Our data shows traders are now net-short EUR/JPY for the first time since May 04, 2020 09:00 GMT when EUR/JPY traded near 116.33. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.