Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
As Dollar Weakness Presists, Yen May Rally

As Dollar Weakness Presists, Yen May Rally

Dylan Jusino, Contributor

Share:

USDJPY: Retail trader data shows 69.2% of traders are net-long with the ratio of traders long to short at 2.25 to 1. In fact, traders have remained net-long since Dec 29 when USDJPY traded near 113.303; price has moved 2.5% lower since then. The number of traders net-long is 4.5% higher than yesterday and 0.6% higher from last week, while the number of traders net-short is 6.3% lower than yesterday and 15.1% 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. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bearish contrarian trading bias.

--- Written by Dylan Jusino, DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES