Retail trader data shows 61.6% of traders are net-long with the ratio of traders long to short at 1.6 to 1. The number of traders net-long is 2.3% lower than yesterday and 37.3% higher from last week, while the number of traders net-short is 11.5% lower than yesterday and 48.2% lower from last week.
I 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.
I 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.
Trade active
USD/JPY couldn't break the green line but it was a great trade for short when it broke the red line- support
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.