Technical Analysis

USDJPY: Costs Could Proceed to Fall

USDJPY

51.6% OF TRADERS ARE NET-LONG

USDJPY: Retail dealer knowledge exhibits 51.6% of merchants are net-long with the ratio of merchants lengthy to quick at 1.07 to 1. The variety of merchants net-long is 1.6% decrease than yesterday and zero.9% decrease from final week, whereas the variety of merchants net-short is 2.1% decrease than yesterday and four.1% decrease from final week.

For extra in-depth evaluation, try the Q1 2019 Forecast for USDJPY

USDJPY SUGGESTS A BEARISH TRADING BIAS

We sometimes take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests USDJPY costs might proceed to fall. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments provides us a stronger USDJPY-bearish contrarian buying and selling bias.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Comply with Nancy on Twitter @NancyPakbazFX


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