USD/JPY IG Client Sentiment: Our data shows traders are now at their least net-long USD/JPY since Apr 12 when USD/JPY traded near 111.99.
Number of traders net-short has increased by 166.67% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 28.97% of traders are net-long with the ratio of traders short to long at 2.45 to 1. Our data shows traders are now at their least net-long USD/JPY since Apr 12 when USD/JPY traded near 111.99. The number of traders net-long is 9.72% lower than yesterday and 29.07% lower from last week, while the number of traders net-short is 32.74% higher than yesterday and 166.67% 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.
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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