Variety of merchants net-short has decreased by 18.18% from final week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
USD/JPY: Retail dealer information reveals 50.37% of merchants are net-long with the ratio of merchants lengthy to brief at 1.02 to 1. In actual fact, merchants have remained net-long since Dec 16 when USD/JPY traded close to 109.58, worth has moved zero.97% decrease since then. The variety of merchants net-long is 10.78% larger than yesterday and eight.50% larger from final week, whereas the variety of merchants net-short is 12.48% decrease than yesterday and 18.18% decrease from final week. We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests USD/JPY costs could proceed to fall. Our information reveals merchants are actually net-long USD/JPY for the primary time since Dec 16, 2019 when USD/JPY traded close to 109.58. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications offers us a stronger USD/JPY-bearish contrarian buying and selling bias.