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USDJPY: Net-Short Positions Increased by 20% from Last Week

USDJPY: Net-Short Positions Increased by 20% from Last Week

Warren Venketas, Markets Writer
USD/JPY sentiment

NUMBER OF TRADERS NET-LONG HAS DECREASED BY 1.5% FROM LAST WEEK

USDJPY: Retail trader data shows 69.6% of traders are net-long with the ratio of traders long to short at 2.29 to 1. In fact, traders have remained net-long since May 03 when USDJPY traded near 111.664; price has moved 3.1% lower since then. The number of trader’s net-long is 2.9% higher than yesterday and 1.5% lower from last week, while the number of trader’s net-short is 3.0% lower than yesterday and 20.0% higher 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”:

Tuesday 15:00 GMT

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(click on one of the above times to enroll)

USD/JPY SENTIMENT SUGGESTS A STRONGER BEARISH SIGNAL

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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