Number of traders net-short has increased by 40.91% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BULLISH | 46.04% | 53.96% | 5.05% Daily -6.43% Weekly | 47.62% Daily 40.91% Weekly | 24.41% Daily 14.29% Weekly |
EUR/JPY: Retail trader data shows 46.04% of traders are net-long with the ratio of traders short to long at 1.17 to 1. In fact, traders have remained net-short since Apr 03 when EUR/JPY traded near 117.12, price has moved 0.56% higher since then. The number of traders net-long is 5.05% higher than yesterday and 6.43% lower from last week, while the number of traders net-short is 47.62% higher than yesterday and 40.91% higher 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 Apr 03, 2020 when EUR/JPY traded near 117.12. 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.
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