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% -43.21% | 16.82% 31.47% | 14.52% 2.10% |
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
