SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 51.52% | 48.48% | 14.86% Daily -2.30% Weekly | -25.00% Daily -16.38% Weekly | -8.67% Daily -9.67% Weekly |
EUR/JPY: Retail trader data shows 51.52% of traders are net-long with the ratio of traders long to short at 1.06 to 1. In fact, traders have remained net-long since Dec 27 when EUR/JPY traded near 122.38, price has moved 1.52% lower since then. The number of traders net-long is 14.86% higher than yesterday and 2.30% lower from last week, while the number of traders net-short is 25.00% lower than yesterday and 16.38% lower from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests EUR/JPY prices may continue to fall. Our data shows traders are now net-long EUR/JPY for the first time since Dec 27, 2019 07:00 GMT when EUR/JPY traded near 122.38. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bearish contrarian trading bias.