USD/JPY: Retail Dealer Information exhibits that 71% of Merchants are Internet-LengthyUSD/JPY: Retail dealer knowledge exhibits 71
USD/JPY: Retail Dealer Information exhibits that 71% of Merchants are Internet-Lengthy
USD/JPY: Retail dealer knowledge exhibits 71.4% of merchants are net-long with the ratio of merchants lengthy to brief at 2.49 to 1. In reality, merchants have remained net-long since Might 03 when USD/JPY traded close to 111.977; worth has moved 6.1% decrease since then. The variety of merchants net-long is 6.4% larger than yesterday and 21.0% larger from final week, whereas the variety of merchants net-short is 11.8% larger than yesterday and 23.5% larger from final week.
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USD/JPY: Modifications in Sentiment Recommend Development might Reverse Increased although Merchants stay Internet-Lengthy
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests USD/JPY costs might proceed to fall. But merchants are much less net-long than yesterday and in contrast with final week. Current modifications in sentiment warn that the present USD/JPY worth development might quickly reverse larger regardless of the actual fact merchants stay net-long.
-Written by Tammy Da Costa, DailyFX Analysis