EUR/JPY IG Client Sentiment: Our data shows traders are now at their most net-long EUR/JPY since Nov 04 when EUR/JPY traded near 122.52.

Number of traders net-short has decreased by 18.96% from last week.

EUR/JPY: Retail trader data shows 61.81% of traders are net-long with the ratio of traders long to short at 1.62 to 1. Our data shows traders are now at their most net-long EUR/JPY since Nov 04 when EUR/JPY traded near 122.52. The number of traders net-long is 8.84% higher than yesterday and 42.66% higher from last week, while the number of traders net-short is 3.70% lower than yesterday and 18.96% 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.

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.