Number of traders net-short has increased by 2.65% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BULLISH | 21.16% | 78.84% | -22.41% Daily -31.82% Weekly | 4.57% Daily 2.65% Weekly | -2.60% Daily -7.27% Weekly |
EUR/JPY: Retail trader data shows 21.16% of traders are net-long with the ratio of traders short to long at 3.73 to 1. Our data shows traders are now at their least net-long EUR/JPY since Mar 23 when EUR/JPY traded near 133.30. The number of traders net-long is 22.41% lower than yesterday and 31.82% lower from last week, while the number of traders net-short is 4.57% higher than yesterday and 2.65% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/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 EUR/JPY-bullish contrarian trading bias.
