Number of traders net-short has decreased by 34.14% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.61% |
49.39% |
22.79%
45.85% |
-22.75%
-34.14% |
-4.90%
-8.84% |
EUR/JPY: Retail trader data shows 50.61% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Oct 19 when EUR/JPY traded near 124.10, price has moved 1.44% lower since then. The number of traders net-long is 22.79% higher than yesterday and 45.85% higher from last week, while the number of traders net-short is 22.75% lower than yesterday and 34.14% 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 Oct 19, 2020 13:00 GMT when EUR/JPY traded near 124.10. 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.
