EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Dec 07, 2019 when EUR/JPY traded near 120.08.
Number of traders net-short has decreased by 9.60% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/JPY: Retail trader data shows 50.17% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Dec 07 when EUR/JPY traded near 120.08, price has moved 1.53% higher since then. The number of traders net-long is 15.75% higher than yesterday and 22.50% higher from last week, while the number of traders net-short is 4.26% lower than yesterday and 9.60% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/JPY prices may continue to fall. Our data shows traders are now net-long EUR/JPY for the first time since Dec 07, 2019 when EUR/JPY traded near 120.08. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bearish contrarian trading bias.
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