USD/JPY IG Client Sentiment: Our data shows traders are now net-long USD/JPY for the first time since Mar 27, 2023 when USD/JPY traded near 131.67.
Number of traders net-short has decreased by 19.92% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
USD/JPY: Retail trader data shows 50.09% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Mar 27 when USD/JPY traded near 131.67, price has moved 4.95% higher since then. The number of traders net-long is 11.28% higher than yesterday and 27.09% higher from last week, while the number of traders net-short is 4.96% lower than yesterday and 19.92% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/JPY prices may continue to fall.
Our data shows traders are now net-long USD/JPY for the first time since Mar 27, 2023 when USD/JPY traded near 131.67. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bearish contrarian trading bias.
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