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 |
|
BEARISH |
52.43% |
47.57% |
41.70%
58.19% |
-22.92%
-18.98% |
1.30%
8.86% |
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.
