USDJPY May Rise With Recent Shifts in Sentiment

USDJPY May Rise With Recent Shifts in Sentiment

USDJPY May Rise With Recent Shifts in Sentiment

Don’t forget to check the free Bitcoin Trading Guide if you’re new to cryptocurrencies!

USDJPY: Retail trader data shows 67.3% of traders are net-long with the ratio of traders long to short at 2.06 to 1. In fact, traders have remained net-long since Dec 29 when USDJPY traded near 113.533; price has moved 6.2% lower since then. The number of traders net-long is 2.6% lower than yesterday and 0.4% lower from last week, while the number of traders net-short is 0.9% higher than yesterday and 8.8% higher 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. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current USDJPY price trend may soon reverse higher despite the fact traders remain net-long.

— Written by Dylan Jusino, DailyFX Research

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.