Number of traders net-short has increased by 31.47% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/JPY: Retail trader data shows 21.87% of traders are net-long with the ratio of traders short to long at 3.57 to 1. Our data shows traders are now at their least net-long EUR/JPY since Feb 11 when EUR/JPY traded near 130.99. The number of traders net-long is 6.98% higher than yesterday and 43.21% lower from last week, while the number of traders net-short is 16.82% higher than yesterday and 31.47% 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.
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.