Forexrobots24

forex advisor developer

EUR/JPY IG Client Sentiment: 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.

EUR/JPY Client Positioning

Number of traders net-short has decreased by 50.23% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/JPY

BEARISH

50.16%

49.84%

58.13% Daily

83.43% Weekly

-22.57% Daily

-50.23% Weekly

4.07% Daily

-21.57% Weekly

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.