Number of traders net-short has decreased by 23.22% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BULLISH |
46.78% |
53.22% |
-29.22%
-42.63% |
-4.98%
-23.22% |
-18.10%
-33.71% |
EUR/JPY: Retail trader data shows 46.78% of traders are net-long with the ratio of traders short to long at 1.14 to 1. In fact, traders have remained net-short since Oct 30 when EUR/JPY traded near 121.92, price has moved 2.24% higher since then. The number of traders net-long is 29.22% lower than yesterday and 42.63% lower from last week, while the number of traders net-short is 4.98% lower than yesterday and 23.22% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/JPY prices may continue to rise.
Our data shows traders are now net-short EUR/JPY for the first time since Oct 30, 2020 when EUR/JPY traded near 121.92. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.
