Advertisement
U.S. markets open in 4 hours 16 minutes
  • S&P Futures

    5,214.75
    0.00 (0.00%)
     
  • Dow Futures

    39,227.00
    +4.00 (+0.01%)
     
  • Nasdaq Futures

    18,231.75
    +0.25 (+0.00%)
     
  • Russell 2000 Futures

    2,045.00
    -4.80 (-0.23%)
     
  • Crude Oil

    82.80
    +0.08 (+0.10%)
     
  • Gold

    2,155.80
    -8.50 (-0.39%)
     
  • Silver

    25.09
    -0.17 (-0.67%)
     
  • EUR/USD

    1.0848
    -0.0028 (-0.26%)
     
  • 10-Yr Bond

    4.3400
    0.0000 (0.00%)
     
  • Vix

    14.44
    +0.11 (+0.77%)
     
  • GBP/USD

    1.2686
    -0.0042 (-0.33%)
     
  • USD/JPY

    150.4420
    +1.3440 (+0.90%)
     
  • Bitcoin USD

    63,014.32
    -4,680.91 (-6.91%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,717.63
    -4.92 (-0.06%)
     
  • Nikkei 225

    40,003.60
    +263.20 (+0.66%)
     

US Dollar Forecast to Fall Further versus Japanese Yen

DailyFX.com -

US Dollar Forecast to Fall Further versus Japanese Yen
US Dollar Forecast to Fall Further versus Japanese Yen

Why and how do we use IG Client Sentiment in trading? See our guide.

USDJPY: Retail trader data shows 72.5% of traders are net-long with the ratio of traders long to short at 2.64 to 1. In fact, traders have remained net-long since Jan 09 when USDJPY traded near 117.304; price has moved 5.4% lower since then. The number of traders net-long is 5.7% higher than yesterday and 1.1% higher from last week, while the number of traders net-short is 6.2% lower than yesterday and 10.2% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests USDJPY prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger USDJPY-bearish contrarian trading bias.


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from IG.

Advertisement