Variety of merchants net-short has decreased by 11.20% from final week. SYMBOL
Variety of merchants net-short has decreased by 11.20% from final week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
EUR/JPY |
BEARISH |
50.78% |
49.22% |
22.01%
39.15% |
-7.04%
-11.20% |
5.75%
8.78% |
EUR/JPY: Retail dealer knowledge reveals 50.78% of merchants are net-long with the ratio of merchants lengthy to quick at 1.03 to 1. The truth is, merchants have remained net-long since Nov 09 when EUR/JPY traded close to 124.31, value has moved 0.97% decrease since then. The variety of merchants net-long is 22.01% increased than yesterday and 39.15% increased from final week, whereas the variety of merchants net-short is 7.04% decrease than yesterday and 11.20% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/JPY costs could proceed to fall.
Our knowledge reveals merchants at the moment are net-long EUR/JPY for the primary time since Nov 09, 2020 12:00 GMT when EUR/JPY traded close to 124.31. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications offers us a stronger EUR/JPY-bearish contrarian buying and selling bias.