SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BULLISH | 49.67% | 50.33% | -4.70% Daily -17.71% Weekly | 20.21% Daily 7.62% Weekly | 6.40% Daily -6.65% Weekly |
AUD/JPY: Retail trader data shows 49.67% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Nov 13 when AUD/JPY traded near 74.41, price has moved 2.18% higher since then. The number of traders net-long is 4.70% lower than yesterday and 17.71% lower from last week, while the number of traders net-short is 20.21% higher than yesterday and 7.62% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUD/JPY prices may continue to rise. Our data shows traders are now net-short AUD/JPY for the first time since Nov 13, 2019 when AUD/JPY traded near 74.41. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bullish contrarian trading bias.