SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 50.37% | 49.63% | 10.78% Daily 8.50% Weekly | -12.48% Daily -18.18% Weekly | -2.13% Daily -6.61% Weekly |
USD/JPY: Retail trader data shows 50.37% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Dec 16 when USD/JPY traded near 109.58, price has moved 0.97% lower since then. The number of traders net-long is 10.78% higher than yesterday and 8.50% higher from last week, while the number of traders net-short is 12.48% lower than yesterday and 18.18% 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 16, 2019 when USD/JPY traded near 109.58. 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.