Number of traders net-short has increased by 14.57% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/JPY: Retail trader data shows 49.39% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Apr 16 when EUR/JPY traded near 117.25, price has moved 0.44% lower since then. The number of traders net-long is 1.79% higher than yesterday and 23.66% lower from last week, while the number of traders net-short is 12.36% higher than yesterday and 14.57% 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 16, 2020 when EUR/JPY traded near 117.25. 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.