USD/JPY IG Client Sentiment: Our data shows traders are now net-short USD/JPY for the first time since May 03, 2019 when USD/JPY traded near 111.08.
Number of traders net-short has increased by 6.77% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 49.71% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since May 03 when USD/JPY traded near 111.08, price has moved 3.00% lower since then. The number of traders net-long is 8.24% lower than yesterday and 3.92% lower from last week, while the number of traders net-short is 24.53% higher than yesterday and 6.77% 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 May 03, 2019 when USD/JPY traded near 111.08. 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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