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67% of USDJPY Traders are Net-Long; Bears May Be Skittish

67% of USDJPY Traders are Net-Long; Bears May Be Skittish

2018-04-10 18:00:00
Dylan Jusino,
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67% of USDJPY Traders are Net-Long; Bears May Be Skittish

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USDJPY: Retail trader data shows 67.0% of traders are net-long with the ratio of traders long to short at 2.03 to 1. In fact, traders have remained net-long since Dec 29 when USDJPY traded near 113.545; price has moved 5.6% lower since then. The number of traders net-long is 2.8% higher than yesterday and 5.0% lower from last week, while the number of traders net-short is 10.6% lower than yesterday and 3.1% 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. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed USDJPY trading bias.

--- Written by Dylan Jusino, DailyFX Research

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

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