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Home Technical Analysis

Our data shows traders are now net-long EUR/JPY for the first time since Aug 31, 2020 when EUR/JPY traded near 126.39.

Forex Tips by Forex Tips
September 29, 2020
in Technical Analysis
0
Our data shows traders are now net-long EUR/JPY for the first time since Aug 31, 2020 when EUR/JPY traded near 126.39.
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EUR/JPY Client Positioning

Number of traders net-short has decreased by 18.98% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


EUR/JPY

BEARISH

52.43%

47.57%

41.70%
Daily

58.19%
Weekly

-22.92%
Daily

-18.98%
Weekly

1.30%
Daily

8.86%
Weekly

EUR/JPY: Retail trader data shows 52.43% of traders are net-long with the ratio of traders long to short at 1.10 to 1. In fact, traders have remained net-long since Aug 31 when EUR/JPY traded near 126.39, price has moved 2.50% lower since then. The number of traders net-long is 41.70% higher than yesterday and 58.19% higher from last week, while the number of traders net-short is 22.92% lower than yesterday and 18.98% 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 Aug 31, 2020 when EUR/JPY traded near 126.39. 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.





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