Number of traders net-short has decreased by 41.68% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 51.37% | 48.63% | 21.46% Daily 25.00% Weekly | -32.06% Daily -41.68% Weekly | -12.18% Daily -19.67% Weekly |
EUR/JPY: Retail trader data shows 51.37% of traders are net-long with the ratio of traders long to short at 1.06 to 1. In fact, traders have remained net-long since Jan 09 when EUR/JPY traded near 121.64, price has moved 0.66% lower since then. The number of traders net-long is 21.46% higher than yesterday and 25.00% higher from last week, while the number of traders net-short is 32.06% lower than yesterday and 41.68% 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 Jan 09, 2020 when EUR/JPY traded near 121.64. 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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