Variety of merchants net-short has decreased by 32.65% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/JPY |
BEARISH |
50.00% |
50.00% |
5.38%
53.73% |
-14.78%
-32.65% |
-5.77%
-6.33% |
EUR/JPY: Retail dealer information reveals 50.00% of merchants are net-long with the ratio of merchants lengthy to brief at 1.00 to 1. In actual fact, merchants have remained net-long since Oct 01 when EUR/JPY traded close to 123.97, value has moved 0.67% decrease since then. The variety of merchants net-long is 5.38% greater than yesterday and 53.73% greater from final week, whereas the variety of merchants net-short is 14.78% decrease than yesterday and 32.65% 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 reveals merchants at the moment are net-long EUR/JPY for the primary time since Oct 01, 2020 when EUR/JPY traded close to 123.97. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments offers us a stronger EUR/JPY-bearish contrarian buying and selling bias.