USD/JPY IG Client Sentiment: Our data shows traders are now at their least net-long USD/JPY since Oct 21 when USD/JPY traded near 113.97.
Number of traders net-short has increased by 9.98% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 22.13% of traders are net-long with the ratio of traders short to long at 3.52 to 1. Our data shows traders are now at their least net-long USD/JPY since Oct 21 when USD/JPY traded near 113.97. The number of traders net-long is 6.70% lower than yesterday and 18.08% lower from last week, while the number of traders net-short is 6.78% higher than yesterday and 9.98% 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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