USD/JPY: Retail Dealer Information exhibits that 65% of Merchants are Web-LengthyUSD/JPY: Retail dealer information exhibits 64.9%
USD/JPY: Retail Dealer Information exhibits that 65% of Merchants are Web-Lengthy
USD/JPY: Retail dealer information exhibits 64.9% of merchants are net-long with the ratio of merchants lengthy to brief at 1.85 to 1. In truth, merchants have remained net-long since Could 03 when USD/JPY traded close to 112.036; value has moved 5.0% decrease since then. The variety of merchants net-long is 2.2% larger than yesterday and 0.7% decrease from final week, whereas the variety of merchants net-short is 2.4% larger than yesterday and 34.2% larger from final week.
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USD/JPY: Modifications in sentiment warn that development might reverse larger
We usually take a contrarian view to crowd sentiment, and the very 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 adjustments in sentiment warn that the present USD/JPY value development might quickly reverse larger regardless of the very fact merchants stay net-long.
-Written by Tammy Da Costa, DailyFX Analysis