USD/JPY IG Client Sentiment: Our data shows traders are now net-long USD/JPY for the first time since Dec 16, 2019 when USD/JPY traded near 109.58.
Number of traders net-short has decreased by 18.18% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 50.37% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Dec 16 when USD/JPY traded near 109.58, price has moved 0.97% lower since then. The number of traders net-long is 10.78% higher than yesterday and 8.50% higher from last week, while the number of traders net-short is 12.48% lower than yesterday and 18.18% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/JPY prices may continue to fall. Our data shows traders are now net-long USD/JPY for the first time since Dec 16, 2019 when USD/JPY traded near 109.58. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bearish contrarian trading bias.
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