Number of traders net-short has decreased by 34.10% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
EUR/JPY | BEARISH | 51.19% | 48.81% | 32.46% 56.48% | -9.43% -34.10% | 8.06% -6.35% |
EUR/JPY: Retail trader data shows 51.19% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Feb 03 when EUR/JPY traded near 131.45, price has moved 2.58% lower since then. The number of traders net-long is 32.46% higher than yesterday and 56.48% higher from last week, while the number of traders net-short is 9.43% lower than yesterday and 34.10% 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 Feb 03, 2022 when EUR/JPY traded near 131.45. 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/2022/03/01/EURJPY-IG-Client-Sentiment-1423.html
By: Research
