26 Jun, 2024
USD/JPY, EUR/JPY and GBP/JPY – Latest Retail Sentiment Analysis
- USD/JPY – Mixed Outlook
- EUR/JPY – Bullish Contrarian Bias
- GBP/JPY – Bullish Contrarian Bias
Learn how to trade USD / JPY with our complimentary guide
USD/JPY – Decoding Market Sentiment
Latest retail trader data reveals a stark USD/JPY market divide, with only 16.98% of traders maintaining net-long positions. This creates a significant short-to-long ratio of 4.89 to 1. Net-long traders have increased by 1.36% since yesterday but decreased by 10.94% over the week. Net-short traders show growth of 0.51% daily and 22.33% weekly.
Our contrarian analysis suggests continued USD/JPY price gains. However, the dynamic nature of current positioning complicates the picture, leading to a mixed USD/JPY trading outlook.
USD/JPY Daily Price Chart
EUR/JPY – Bullish Contrarian Bias
Latest data shows a pronounced shift in EUR /JPY retail trader positions. A mere 16.49% of traders hold net-long positions, resulting in a 5.07 to 1 short-to-long ratio. Net-long traders have decreased by 13.75% since yesterday and 31.34% over the week. Meanwhile, net-short traders have increased by 8.20% daily and 19.90% weekly.
Our contrarian view on crowd sentiment points towards potential EUR/JPY price gains. The intensifying net-short positioning reinforces our bullish EUR/JPY outlook, suggesting a strong contrarian trading bias.
EUR/JPY Daily Chart
| Change in | Longs | Shorts | OI |
| Daily | -6% | -3% | -3% |
| Weekly | -17% | 10% | 4% |
GBP /JPY – Traders Net-Short
Retail trader data shows 22.28% of traders are net-long with the ratio of traders short to long at 3.49 to 1.The number of traders net-long is 3.95% lower than yesterday and 10.99% lower than last week, while the number of traders net-short is 2.60% higher than yesterday and 15.82% higher than last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/JPY prices may continue to rise. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bullish contrarian trading bias
GBP/JPY Daily Price Chart
All charts using TradingView