Number of traders net-short has decreased by 18.65% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
EUR/JPY: Retail trader data shows 50.88% of traders are net-long with the ratio of traders long to short at 1.04 to 1. In fact, traders have remained net-long since Jan 19 when EUR/JPY traded near 126.12, price has moved 1.10% higher since then. The number of traders net-long is 78.57% higher than yesterday and 38.38% higher from last week, while the number of traders net-short is 19.20% lower than yesterday and 18.65% 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.
Our data shows traders are now net-long EUR/JPY for the first time since Jan 19, 2021 when EUR/JPY traded near 126.12. 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.
Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/02/18/EURJPY-IG-Client-Sentiment-1123.html