Variety of merchants net-short has elevated by 166.67% from final week. SYMBOL
Variety of merchants net-short has elevated by 166.67% from final week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
BULLISH |
28.97% |
71.03% |
-9.72%
-29.07% |
32.74%
166.67% |
16.82%
48.18% |
USD/JPY: Retail dealer information reveals 28.97% of merchants are net-long with the ratio of merchants brief to lengthy at 2.45 to 1. Our information reveals merchants at the moment are at their least net-long USD/JPY since Apr 12 when USD/JPY traded close to 111.99. The variety of merchants net-long is 9.72% decrease than yesterday and 29.07% decrease from final week, whereas the variety of merchants net-short is 32.74% greater than yesterday and 166.67% greater from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests USD/JPY costs could proceed to rise.
Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger USD/JPY-bullish contrarian buying and selling bias.