Number of traders net-short has decreased by 50.23% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/JPY: Retail trader data shows 50.16% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since May 26 when EUR/JPY traded near 118.05, price has moved 3.13% higher since then. The number of traders net-long is 58.13% higher than yesterday and 83.43% higher from last week, while the number of traders net-short is 22.57% lower than yesterday and 50.23% 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 May 26, 2020 when EUR/JPY traded near 118.05. 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.