EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Nov 26, 2019 when EUR/JPY traded near 120.24.
Number of traders net-short has decreased by 18.26% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/JPY: Retail trader data shows 49.92% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-long since Nov 26 when EUR/JPY traded near 120.24, price has moved 0.18% lower since then. The number of traders net-long is 2.61% lower than yesterday and 15.30% lower from last week, while the number of traders net-short is 17.13% lower than yesterday and 18.26% lower 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. Our data shows traders are now net-long EUR/JPY for the first time since Nov 26, 2019 when EUR/JPY traded near 120.24. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current EUR/JPY price trend may soon reverse lower despite the fact traders remain net-short.
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