Our data shows traders are now at their least net-long USD/JPY since Oct 21 when USD/JPY traded near 113.97.

Our data shows traders are now at their least net-long USD/JPY since Oct 21 when USD/JPY traded near 113.97.

Number of traders net-short has increased by 9.98% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

USD/JPY

BULLISH

22.13%

77.87%

-6.70%
Daily

-18.08%
Weekly

6.78%
Daily

9.98%
Weekly

3.47%
Daily

2.23%
Weekly

USD/JPY: Retail trader data shows 22.13% of traders are net-long with the ratio of traders short to long at 3.52 to 1. Our data shows traders are now at their least net-long USD/JPY since Oct 21 when USD/JPY traded near 113.97. The number of traders net-long is 6.70% lower than yesterday and 18.08% lower from last week, while the number of traders net-short is 6.78% higher than yesterday and 9.98% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests USD/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 USD/JPY-bullish contrarian trading bias.

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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2022/01/04/USDJPY-IG-Client-Sentiment-0823.html
By: Research

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