Our data shows traders are now at their most net-long EUR/JPY since Sep 22 when EUR/JPY traded near 128.38.

Our data shows traders are now at their most net-long EUR/JPY since Sep 22 when EUR/JPY traded near 128.38.

Number of traders net-short has decreased by 20.65% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/JPY

BEARISH

62.78%

37.22%

18.91%
Daily

10.08%
Weekly

-6.46%
Daily

-20.65%
Weekly

8.01%
Daily

-3.78%
Weekly

EUR/JPY: Retail trader data shows 62.78% of traders are net-long with the ratio of traders long to short at 1.69 to 1. Our data shows traders are now at their most net-long EUR/JPY since Sep 22 when EUR/JPY traded near 128.38. The number of traders net-long is 18.91% higher than yesterday and 10.08% higher from last week, while the number of traders net-short is 6.46% lower than yesterday and 20.65% 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.

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.

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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/12/09/EURJPY-IG-Client-Sentiment-1823.html
By: Research

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