Net-Long USDJPY Positions Increase by 8% From Last Week
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Net-Long USDJPY Positions Increase by 8% From Last Week

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Net-Long USDJPY Positions Increase by 8% From Last Week

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USDJPY: Retail trader data shows 68.1% of traders are net-long with the ratio of traders long to short at 2.14 to 1. In fact, traders have remained net-long since Dec 29 when USDJPY traded near 112.729; price has moved 6.0% lower since then. The number of traders net-long is 3.6% higher than yesterday and 8.6% lower from last week, while the number of traders net-short is 2.6% higher than yesterday and 2.6% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Positioning is more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed USDJPY trading bias.

--- Written by Dylan Jusino, DailyFX Research

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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