Our data shows traders are now at their least net-long EUR/JPY since Feb 11 when EUR/JPY traded near 130.99.

Our data shows traders are now at their least net-long EUR/JPY since Feb 11 when EUR/JPY traded near 130.99.

Number of traders net-short has increased by 31.47% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/JPY

BULLISH

21.87%

78.13%

6.98%
Daily

-43.21%
Weekly

16.82%
Daily

31.47%
Weekly

14.52%
Daily

2.10%
Weekly

EUR/JPY: Retail trader data shows 21.87% of traders are net-long with the ratio of traders short to long at 3.57 to 1. Our data shows traders are now at their least net-long EUR/JPY since Feb 11 when EUR/JPY traded near 130.99. The number of traders net-long is 6.98% higher than yesterday and 43.21% lower from last week, while the number of traders net-short is 16.82% higher than yesterday and 31.47% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests EUR/JPY prices may continue to rise.

Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bullish contrarian trading bias.

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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2022/03/23/EURJPY-IG-Client-Sentiment-1323.html
By: Research

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