Number of traders net-short has decreased by 40.10% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 78.11% of traders are net-long with the ratio of traders long to short at 3.57 to 1. Our data shows traders are now at their most net-long USD/JPY since Mar 08 when USD/JPY traded near 103.93. The number of traders net-long is 8.97% higher than yesterday and 70.11% higher from last week, while the number of traders net-short is 26.32% lower than yesterday and 40.10% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/JPY prices may continue to fall.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bearish contrarian trading bias.