Technical Analysis

USDJPY: 50.1% of Merchants Are Internet-Lengthy

USDJPY

PRICE MOVED LOWER BY three.6% SINCE DEC 18

USDJPY: Retail dealer information reveals 50.1% of merchants are net-long with the ratio of merchants lengthy to brief at 1.01 to 1. Actually, merchants have remained net-long since Dec 18 when USDJPY traded close to 113.283; worth has moved three.6% decrease since then. The share of merchants net-long is now its lowest since Dec 12 when USDJPY traded close to 113.283. The variety of merchants net-long is 2.5% decrease than yesterday and 11.eight% decrease from final week, whereas the variety of merchants net-short is 12.four% increased than yesterday and 14.9% increased from final week.

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USDJPY SUGGESTS A MIXED BIAS

We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests USDJPY costs might proceed to fall. But merchants are much less net-long than yesterday and in contrast with final week. Latest modifications in sentiment warn that the present USDJPY worth development might quickly reverse increased regardless of the actual fact merchants stay net-long.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis


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