USD/JPY IG Client Sentiment: Our data shows traders are now net-short USD/JPY for the first time since Jan 27, 2020 15:00 GMT when USD/JPY traded near 108.93.
Number of traders net-short has increased by 1.00% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 48.83% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Jan 27 when USD/JPY traded near 108.93, price has moved 0.84% higher since then. The number of traders net-long is 4.91% lower than yesterday and 14.93% lower from last week, while the number of traders net-short is 16.17% higher than yesterday and 1.00% 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 Jan 27, 2020 15:00 GMT when USD/JPY traded near 108.93. 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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