Skip to Content
News & Analysis at your fingertips.
Free Trading Guides
Please try again

Live Webinar Events


Economic Calendar Events


Notify me about

Live Webinar Events
Economic Calendar Events






More View More
USDJPY: Trades Off of 110 Resistance Level With Mixed Bias

USDJPY: Trades Off of 110 Resistance Level With Mixed Bias

Dylan Jusino, Contributor


What's on this page

Don't forget to check the free Bitcoin Trading Guide if you're new to cryptocurrencies!

6.5% of Yen Short Positions Covered Since Last Week

USDJPY: Retail trader data shows 56.5% of traders are net-long with the ratio of traders long to short at 1.3 to 1. In fact, traders have remained net-long since Dec 29 when USDJPY traded near 112.306; price has moved 2.8% lower since then. The number of traders net-long is 2.6% lower than yesterday and 0.7% lower from last week, while the number of traders net-short is 1.0% higher than yesterday and 6.5% lower from last week.

USDJPY Trades With Mixed Bias

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.

--- Written by Dylan Jusino, DailyFX Research

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