Number of merchants net-short has decreased by 25.62% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
EUR/JPY |
BEARISH |
50.00% |
50.00% |
0.00%
20.32% |
-7.08%
-25.62% |
-3.67%
-8.07% |
EUR/JPY: Retail dealer knowledge reveals 50.00% of merchants are net-long with the ratio of merchants lengthy to quick at 1.00 to 1. In reality, merchants have remained net-long since Dec 22 when EUR/JPY traded close to 129.26, value has moved 0.35% decrease since then. The variety of merchants net-long is unchanged than yesterday and 20.32% larger from final week, whereas the variety of merchants net-short is 7.08% decrease than yesterday and 25.62% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests EUR/JPY costs might proceed to fall.
Our knowledge reveals merchants at the moment are net-long EUR/JPY for the primary time since Dec 22, 2021 when EUR/JPY traded close to 129.26. Traders are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger EUR/JPY-bearish contrarian buying and selling bias.
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