USD/JPY IG Client Sentiment: Our data shows traders are now at their least net-long USD/JPY since Sep 30 when USD/JPY traded near 111.35.
Number of traders net-short has increased by 7.75% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 22.85% of traders are net-long with the ratio of traders short to long at 3.38 to 1. Our data shows traders are now at their least net-long USD/JPY since Sep 30 when USD/JPY traded near 111.35. The number of traders net-long is 8.28% lower than yesterday and 14.12% lower from last week, while the number of traders net-short is 10.11% higher than yesterday and 7.75% 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.
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.
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