USD/JPY Price Trend May Soon Continue Higher

| 28 september, 2017 | 0 kommentarer

USD/JPY Price Trend May Soon Continue Higher

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USDJPY: Retail trader data shows 53.6% of traders are net-long with the ratio of traders long to short at 1.16 to 1. In fact, traders have remained net-long since Jul 18 when USDJPY traded near 113.901; price has moved 1.1% lower since then. The number of traders net-long is 3.5% lower than yesterday and 6.6% lower from last week, while the number of traders net-short is 0.9% higher than yesterday and 12.6% higher 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. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current USDJPY price trend may soon reverse higher despite the fact traders remain net-long.

— Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher Vecchio, e-mail [email protected]

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Kategori: Analys från DailyFX

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