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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.

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.

2020-02-06 17:23:00
Research, Research Team
Share:
EUR/JPY Client Positioning

Number of traders net-short has increased by 29.69% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/JPY

BULLISH

47.66%

52.34%

-13.28% Daily

-12.63% Weekly

20.25% Daily

29.69% Weekly

1.54% Daily

5.37% Weekly

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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