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USD/JPY: Sentiment Gives A Mixed Trading Bias

USD/JPY: Sentiment Gives A Mixed Trading Bias

2018-08-28 18:00:00
Jack Schwarze,
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USD/JPY Retial Trader Client Sentiment

Net-Short Positions Increase 8.6% From Last Week

USDJPY: Retail trader data shows 54.3% of traders are net-long with the ratio of traders long to short at 1.19 to 1. The number of traders net-long is 12.6% higher than yesterday and 5.3% lower from last week, while the number of traders net-short is 7.2% lower than yesterday and 8.6% higher from last week.

To gain more insight to how we use sentiment to power our trading, join us for our weekly Trading Sentiment webinar.

Price Action and Sentiment Yields Trading Conflict

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 Jack Schwarze, DailyFX Research

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

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