USD/JPY IG Client Sentiment: Our data shows traders are now net-short USD/JPY for the first time since Sep 10, 2020 when USD/JPY traded near 106.17.
Number of traders net-short has increased by 32.16% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 49.06% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Sep 10 when USD/JPY traded near 106.17, price has moved 0.48% lower since then. The number of traders net-long is 3.54% higher than yesterday and 18.98% lower from last week, while the number of traders net-short is 15.01% higher than yesterday and 32.16% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/JPY prices may continue to rise.
Our data shows traders are now net-short USD/JPY for the first time since Sep 10, 2020 when USD/JPY traded near 106.17. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bullish contrarian trading bias.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.