Number of traders net-short has decreased by 30.32% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
USD/JPY: Retail trader data shows 51.13% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Dec 05 when USD/JPY traded near 136.57, price has moved 2.48% lower since then. The number of traders net-long is 1.69% higher than yesterday and 10.92% higher from last week, while the number of traders net-short is 17.64% lower than yesterday and 30.32% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USD/JPY prices may continue to fall.
Our data shows traders are now net-long USD/JPY for the first time since Dec 05, 2022 when USD/JPY traded near 136.57. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USD/JPY-bearish contrarian trading bias.