Number of traders net-short has decreased by 36.12% 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 50.07% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Jan 26 when USD/JPY traded near 114.72, price has moved 21.53% higher since then. The number of traders net-long is 12.74% higher than yesterday and 23.24% higher from last week, while the number of traders net-short is 4.42% higher than yesterday and 36.12% 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 Jan 26, 2022 when USD/JPY traded near 114.72. 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.