Number of traders net-short has decreased by 11.20% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.78% |
49.22% |
22.01%
39.15% |
-7.04%
-11.20% |
5.75%
8.78% |
EUR/JPY: Retail trader data shows 50.78% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Nov 09 when EUR/JPY traded near 124.31, price has moved 0.97% lower since then. The number of traders net-long is 22.01% higher than yesterday and 39.15% higher from last week, while the number of traders net-short is 7.04% lower than yesterday and 11.20% 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 Nov 09, 2020 12:00 GMT when EUR/JPY traded near 124.31. 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.
