USD/JPY IG Client Sentiment: Our data shows traders are now net-short USD/JPY for the first time since Dec 31, 2020 10:00 GMT when USD/JPY traded near 108.63.
Number of traders net-short has increased by 11.93% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 49.91% of traders are net-long with the ratio of traders short to long at 1.00 to 1. In fact, traders have remained net-short since Dec 31 when USD/JPY traded near 108.63, price has moved 0.21% lower since then. The number of traders net-long is 9.16% lower than yesterday and 9.86% higher from last week, while the number of traders net-short is 13.02% higher than yesterday and 11.93% 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 Dec 31, 2020 10:00 GMT when USD/JPY traded near 108.63. 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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