EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Nov 09, 2020 12:00 GMT when EUR/JPY traded near 124.31.
Number of traders net-short has decreased by 11.20% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/JPY: Retail trader data shows 50.78% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Nov 09 when EUR/JPY traded near 124.31, price has moved 0.97% lower since then. The number of traders net-long is 22.01% higher than yesterday and 39.15% higher from last week, while the number of traders net-short is 7.04% lower than yesterday and 11.20% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/JPY prices may continue to fall.
Our data shows traders are now net-long EUR/JPY for the first time since Nov 09, 2020 12:00 GMT when EUR/JPY traded near 124.31. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bearish contrarian trading bias.
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