Variety of merchants net-short has decreased by 18.65% from final week. SYMBOL
Variety of merchants net-short has decreased by 18.65% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/JPY |
BEARISH |
50.88% |
49.12% |
78.57%
38.38% |
-19.20%
-18.65% |
12.01%
2.93% |
EUR/JPY: Retail dealer information exhibits 50.88% of merchants are net-long with the ratio of merchants lengthy to quick at 1.04 to 1. In truth, merchants have remained net-long since Jan 19 when EUR/JPY traded close to 126.12, worth has moved 1.10% greater since then. The variety of merchants net-long is 78.57% greater than yesterday and 38.38% greater from final week, whereas the variety of merchants net-short is 19.20% decrease than yesterday and 18.65% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/JPY costs could proceed to fall.
Our information exhibits merchants are actually net-long EUR/JPY for the primary time since Jan 19, 2021 when EUR/JPY traded close to 126.12. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications offers us a stronger EUR/JPY-bearish contrarian buying and selling bias.