Number of traders net-short has increased by 42.79% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
USD/JPY |
BULLISH |
32.95% |
67.05% |
-23.00%
-21.11% |
30.97%
42.79% |
6.40%
12.71% |
USD/JPY: Retail trader data shows 32.95% of traders are net-long with the ratio of traders short to long at 2.04 to 1. Our data shows traders are now at their least net-long USD/JPY since Mar 18 when USD/JPY traded near 108.93. The number of traders net-long is 23.00% lower than yesterday and 21.11% lower from last week, while the number of traders net-short is 30.97% higher than yesterday and 42.79% 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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