This article examines retail crowd sentiment on the Japanese yen via an analysis of USD/JPY, EUR/JPY, and GBP/JPY. In the piece, we also consider possible near-term directional outcomes based on market positioning and contrarian signals.
EUR/USD IG Client Sentiment: Our data shows traders are now net-long EUR/USD for the first time since May 09, 2024 when EUR/USD traded near 1.08.Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.09% Oil ...In trading, the temptation to follow the masses is strong - buying during bullish trends and selling in bearish ones. However, experienced traders often find that the good opportunities come from unconventional strategies.
To put this into practice, let's look at how IG's client sentiment data and current retail investor positioning can influence trading decisions for three majorIG data shows that 72.46% of clients trading USD/JPY are bearish on the pair, with the ratio of short-to-long clocking in at 2.63 to 1 at the time of writing. The number of sellers is 1.92% lower than yesterday and 1.68% higher than last week, while the count of those holding bullish positions has increased by 8.30% and 4.
Our strategy typically involves countering crowd sentiment, and the overwhelming net-short position of traders points to a potential rise in EUR/JPY in the near term. Having said all that, accelerating selling activity since yesterday and last week, combined with current sentiment, reinforces our bullish contrarian bias on EUR/JPY.
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