USD/JPY Bias Neutralized during End of Q3’17

| 29 september, 2017 | 0 kommentarer

USD/JPY Bias Neutralized during End of Q3'17

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USDJPY: Retail merchant information shows 53.4% of traders are net-long with a ratio of traders prolonged to brief during 1.15 to 1. In fact, traders have remained net-long given Jul 18 when USDJPY traded nearby 113.901; cost has changed 1.2% reduce given then. The series of traders net-long is 5.4% reduce than yesterday and 2.6% reduce from final week, while a series of traders net-short is 4.6% reduce than yesterday and 4.5% reduce from final week.

We typically take a contrarian perspective to throng sentiment, and a fact traders are net-long suggests USDJPY prices might continue to fall. Positioning is reduction net-long than yesterday though some-more net-long from final week. The multiple of stream view and new changes gives us a serve churned USDJPY trade bias.

— Written by Christopher Vecchio, CFA, Senior Currency Strategist

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Kategori: Analys från DailyFX

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