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USDJPY: Traders Net-Long Increase by 4.7% from Last Week

USDJPY: Traders Net-Long Increase by 4.7% from Last Week

Nancy Pakbaz, CFA, Markets Writer
USDJPY

41.9% OF TRADERS ARE NET-LONG

USDJPY: Retail trader data shows 41.9% of traders are net-long with the ratio of traders short to long at 1.39 to 1. In fact, traders have remained net-short since Mar 31 when USDJPY traded near 110.941; price has moved 0.4% higher since then. The number of traders net-long is unchanged than yesterday and 4.7% higher from last week, while the number of traders net-short is 6.5% lower than yesterday and 9.3% lower from last week.

To gain more insight in how we use sentiment to supplement a strategy, join us for one of our weekly webinars on how to “Identify Trends with Sentiment”:

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USDJPY: PRICE TREND 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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