
Number of traders net-short has increased by 7.43% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 51.24% | 48.76% | 11.76% Daily 27.37% Weekly | -4.82% Daily 7.43% Weekly | 3.01% Daily 16.80% Weekly |
EUR/JPY: Retail trader data shows 51.24% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Mar 18 when EUR/JPY traded near 118.58, price has moved 1.75% higher since then. The number of traders net-long is 11.76% higher than yesterday and 27.37% higher from last week, while the number of traders net-short is 4.82% lower than yesterday and 7.43% higher 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 Mar 18, 2020 01:00 GMT when EUR/JPY traded near 118.58. 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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