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USDJPY: 48.7% of Traders Are Net-Long

USDJPY: 48.7% of Traders Are Net-Long

2019-02-19 17:30:00
Nancy Pakbaz, CFA, Markets Writer
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USDJPY

NET-LONG TRADERS INCREASE FROM LAST WEEK

USDJPY: Retail trader data shows 48.7% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Feb 11 when USDJPY traded near 110.511; price has moved 0.2% higher since then. The number of traders net-long is 7.5% higher than yesterday and 55.9% higher from last week, while the number of traders net-short is 5.4% higher than yesterday and 42.2% higher from last week.

For more in-depth analysis, check out the Q1 2019 Forecast for USDJPY

USDJPY PRICES MAY SOON REVERSE

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USDJPY prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current USDJPY price trend may soon reverse lower despite the fact traders remain net-short.

--- Written by Nancy Pakbaz, CFA, DailyFX Research

Follow Nancy on Twitter @NancyPakbazFX

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

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