Number of traders net-short has decreased by 32.80% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 50.76% | 49.24% | 5.96% Daily 39.81% Weekly | -25.06% Daily -32.80% Weekly | -11.98% Daily -8.74% Weekly |
EUR/JPY: Retail trader data shows 50.76% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Mar 09 when EUR/JPY traded near 128.34, price has moved 5.14% higher since then. The number of traders net-long is 5.96% higher than yesterday and 39.81% higher from last week, while the number of traders net-short is 25.06% lower than yesterday and 32.80% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/JPY prices may continue to fall.
Our data shows traders are now net-long EUR/JPY for the first time since Mar 09, 2022 when EUR/JPY traded near 128.34. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bearish contrarian trading bias.
