Technical Analysis

USDJPY: Sentiment Suggests Bullish Buying and selling Bias

USDJPY

41.eight% OF TRADERS ARE NET-LONG

USDJPY: Retail dealer information reveals 41.eight% of merchants are net-long with the ratio of merchants brief to lengthy at 1.39 to 1. The proportion of merchants net-long is now its lowest since Dec 10 when USDJPY traded close to 113.193. The variety of merchants net-long is 1.three% decrease than yesterday and 41.9% decrease from final week, whereas the variety of merchants net-short is 34.6% larger than yesterday and 14.three% decrease from final week.

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

USDJPY PRICES MAY CONTINUE TO RISE

We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests USDJPY costs might proceed to rise. Merchants are additional net-short than yesterday and final week, and the mix of present sentiment and up to date adjustments provides us a stronger USDJPY-bullish contrarian buying and selling bias.

— Written by Nancy Pakbaz, CFA, DailyFX Analysis

Comply with Nancy on Twitter @NancyPakbazFX


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