Number of traders net-short has increased by 50.90% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
USD/JPY |
BULLISH |
21.01% |
78.99% |
-16.74%
-36.19% |
8.55%
50.90% |
2.04%
17.27% |
USD/JPY: Retail trader data shows 21.01% of traders are net-long with the ratio of traders short to long at 3.76 to 1. Our data shows traders are now at their least net-long USD/JPY since Jan 05 when USD/JPY traded near 116.12. The number of traders net-long is 16.74% lower than yesterday and 36.19% lower from last week, while the number of traders net-short is 8.55% higher than yesterday and 50.90% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/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 USD/JPY-bullish contrarian trading bias.
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