Variety of merchants net-short has elevated by 21.94% from final week. SYMBOL
Variety of merchants net-short has elevated by 21.94% from final week.
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
USD/JPY |
BULLISH |
47.66% |
52.34% |
-15.54%
-15.11% |
22.97%
21.94% |
1.02%
0.94% |
USD/JPY: Retail dealer information reveals 47.66% of merchants are net-long with the ratio of merchants quick to lengthy at 1.10 to 1. In truth, merchants have remained net-short since Jun 10 when USD/JPY traded close to 106.92, worth has moved 0.61% increased since then. The variety of merchants net-long is 15.54% decrease than yesterday and 15.11% decrease from final week, whereas the variety of merchants net-short is 22.97% increased than yesterday and 21.94% increased from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-short suggests USD/JPY costs might proceed to rise.
Our information reveals merchants at the moment are net-short USD/JPY for the primary time since Jun 10, 2020 when USD/JPY traded close to 106.92. Merchants are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger USD/JPY-bullish contrarian buying and selling bias.