Variety of merchants net-short has decreased by 19.35% from final week. SYMBOL
Variety of merchants net-short has decreased by 19.35% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/JPY |
BEARISH |
50.84% |
49.16% |
52.10%
19.87% |
3.86%
-19.35% |
23.83%
-3.26% |
EUR/JPY: Retail dealer information reveals 50.84% of merchants are net-long with the ratio of merchants lengthy to brief at 1.03 to 1. In truth, merchants have remained net-long since Nov 25 when EUR/JPY traded close to 124.40, worth has moved 0.84% larger since then. The variety of merchants net-long is 52.10% larger than yesterday and 19.87% larger from final week, whereas the variety of merchants net-short is 3.86% larger than yesterday and 19.35% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests EUR/JPY costs could proceed to fall.
Our information reveals merchants at the moment are net-long EUR/JPY for the primary time since Nov 25, 2020 when EUR/JPY traded close to 124.40. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger EUR/JPY-bearish contrarian buying and selling bias.