EUR/JPY IG Client Sentiment: 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.

Number of traders net-short has increased by 40.91% from last week.

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.