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USDJPY: Net-Short Positions Decreased by 9.1% from Last Week

USDJPY: Net-Short Positions Decreased by 9.1% from Last Week

Warren Venketas, Markets Writer
USD/JPY sentiment

NUMBER OF TRADERS NET-LONG HAS INCREASED BY 11.5% FROM LAST WEEK

USDJPY: Retail trader data shows 65.9% of traders are net-long with the ratio of traders long to short at 1.94 to 1. In fact, traders have remained net-long since May 03 when USDJPY traded near 111.388; price has moved 1.9% lower since then. The number of trader’s net-long is 3.1% higher than yesterday and 11.5% higher from last week, while the number of trader’s net-short is 2.1% lower than yesterday and 9.1% lower from last week.

Tuesday 15:00 GMT

Thursday 21:00 GMT

Wednesday 00:00 GMT

Wednesday 12:30 GMT

(click on one of the above times to enroll)

USD/JPY SENTIMENT REMAINS BEARISH

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggesting USDJPY prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bearish contrarian trading bias.

-Written by Warren Venketas, DailyFX Research

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

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