EUR/JPY IG Client Sentiment: Our data shows traders are now net-short EUR/JPY for the first time since Jan 24, 2020 when EUR/JPY traded near 120.44.
Number of traders net-short has increased by 29.69% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
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EUR/JPY: Retail trader data shows 47.66% of traders are net-long with the ratio of traders short to long at 1.10 to 1. In fact, traders have remained net-short since Jan 24 when EUR/JPY traded near 120.44, price has moved 0.22% higher since then. The number of traders net-long is 13.28% lower than yesterday and 12.63% lower from last week, while the number of traders net-short is 20.25% higher than yesterday and 29.69% higher 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-short EUR/JPY for the first time since Jan 24, 2020 when EUR/JPY traded near 120.44. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.
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