Variety of merchants net-short has elevated by 21.11% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
USD/JPY |
BULLISH |
49.67% |
50.33% |
-12.11%
-26.19% |
1.50%
21.11% |
-5.75%
-8.13% |
USD/JPY: Retail dealer information reveals 49.67% of merchants are net-long with the ratio of merchants quick to lengthy at 1.01 to 1. In truth, merchants have remained net-short since Jul 07 when USD/JPY traded close to 107.55, value has moved 1.32% decrease since then. The variety of merchants net-long is 12.11% decrease than yesterday and 26.19% decrease from final week, whereas the variety of merchants net-short is 1.50% greater than yesterday and 21.11% greater from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests USD/JPY costs could proceed to rise.
Our information reveals merchants at the moment are net-short USD/JPY for the primary time since Jul 07, 2020 when USD/JPY traded close to 107.55. Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger USD/JPY-bullish contrarian buying and selling bias.