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USD/JPY Sentiment: Net-Long Reaches a 9-month High

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TRADERS REMAIN NET-LONG
USDJPY: Retail trader data shows 65.0% of traders are net-long with the ratio of traders long to short at 1.85 to 1. In fact, traders have remained net-long since Dec 18 when USDJPY traded near 112.517; price has moved 1.9% lower since then. The percentage of traders net-long is now its highest since Mar 11 when USDJPY traded near 106.9. The number of traders net-long is 8.7% higher than yesterday and 2.7% higher from last week, while the number of traders net-short is 14.5% lower than yesterday and 17.2% lower from last week.

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USDJPY SENTIMENT GIVES A STRONG BEARISH BIAS
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bearish contrarian trading bias.

Source

29 Dec 2018 1:02 pm 0 Posted by tamilforex

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