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Trading Crowd Buys into Dollar Declines - Watch for Losses

Trading Crowd Buys into Dollar Declines - Watch for Losses

2017-06-05 15:50:00
David Rodriguez, Head of Product
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Trading Crowd Buys into Dollar Declines - Watch for Losses

Why and how do we use IG Client Sentiment in trading? See our guide and real-time data.

USDJPY: Retail trader data shows 64.8% of traders are net-long with the ratio of traders long to short at 1.84 to 1. In fact, traders have remained net-long since May 17 when USDJPY traded near 113.64; price has moved 2.8% lower since then. The number of traders net-long is 3.8% higher than yesterday and 14.9% higher from last week, while the number of traders net-short is 20.9% higher than yesterday and 5.9% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed USDJPY trading bias.

See next article in this week’s report: Spot Gold - Gold Price Rally Likely to Continue until this Changes

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