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USDJPY Price Unclear Based on Mixed Sentiment

USDJPY Price Unclear Based on Mixed Sentiment

Abdullah AlAmoudi,
USDJPY

Net-Long Traders Increased Above 50% Once Again

USDJPY: Retail trader data shows 53.0% of traders are net-long with the ratio of traders long to short at 1.13 to 1. The number of traders net-long is 3.9% higher than yesterday and 4.1% lower from last week, while the number of traders net-short is 3.1% lower than yesterday and 7.6% higher from last week.

USDJPY Continues to 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 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 Abdullah AlAmoudi, DailyFX Research

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

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