Number of traders net-short has increased by 10.33% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
54.81% |
45.19% |
50.00%
25.00% |
-11.99%
10.33% |
13.79%
17.91% |
EUR/JPY: Retail trader data shows 54.81% of traders are net-long with the ratio of traders long to short at 1.21 to 1. In fact, traders have remained net-long since Mar 25 when EUR/JPY traded near 120.68, price has moved 3.05% lower since then. The number of traders net-long is 50.00% higher than yesterday and 25.00% higher from last week, while the number of traders net-short is 11.99% lower than yesterday and 10.33% higher 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 Mar 25, 2020 17:00 GMT when EUR/JPY traded near 120.68. 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.
