EUR/JPY IG Client Sentiment: 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.

Number of traders net-short has decreased by 41.68% from last week.

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.