USD/JPY IG Client Sentiment: Our data shows traders are now net-short USD/JPY for the first time since Jun 10, 2020 when USD/JPY traded near 106.92.
Number of traders net-short has increased by 21.94% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail trader data shows 47.66% of traders are net-long with the ratio of traders short to long at 1.10 to 1. In fact, traders have remained net-short since Jun 10 when USD/JPY traded near 106.92, price has moved 0.61% higher since then. The number of traders net-long is 15.54% lower than yesterday and 15.11% lower from last week, while the number of traders net-short is 22.97% higher than yesterday and 21.94% 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.
Our data shows traders are now net-short USD/JPY for the first time since Jun 10, 2020 when USD/JPY traded near 106.92. 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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