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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.

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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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