Our data shows traders are now net-long EUR/JPY for the first time since Aug 24, 2021 when EUR/JPY traded near 128.94.

Our data shows traders are now net-long EUR/JPY for the first time since Aug 24, 2021 when EUR/JPY traded near 128.94.

Number of traders net-short has decreased by 31.98% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

EUR/JPY

BEARISH

50.00%

50.00%

7.01%
Daily

28.57%
Weekly

-12.90%
Daily

-31.98%
Weekly

-3.97%
Daily

-11.03%
Weekly

EUR/JPY: Retail trader data shows 50.00% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Aug 24 when EUR/JPY traded near 128.94, price has moved 0.02% lower since then. The number of traders net-long is 7.01% higher than yesterday and 28.57% higher from last week, while the number of traders net-short is 12.90% lower than yesterday and 31.98% 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.

Our data shows traders are now net-long EUR/JPY for the first time since Aug 24, 2021 when EUR/JPY traded near 128.94. 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/2021/09/16/EURJPY-IG-Client-Sentiment-1425.html
By: Research

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