Market sentiment analysis of USD/JPY, EUR/JPY, GBP/JPY
Currently, traders still hold a bearish attitude towards the Japanese yen against a range of other currencies.
Latest market sentiment analysis
- USD/JPY - mixed outlook
- EUR/JPY - Bull Market Opposite Bias
- GBP/JPY - The opposite bias of a bull market
USD/JPY
The latest trader data shows that the USD/JPY market is clearly differentiated, with only 16.98% of traders maintaining net long positions. This forms a significant length to length ratio of 4.89 to 1. Since yesterday, net long traders have increased by 1.36%, but decreased by 10.94% this week. Net short traders increased by 0.51% daily and 22.33% weekly.
The reverse analysis indicates that the US dollar/Japanese yen exchange rate will continue to rise. However, the dynamic nature of the current positioning complicates the situation, resulting in a mixed outlook for USD/JPY trading.
USD/JPY daily price chart
EUR/JPY
The latest data shows that there has been a significant change in the positions of euro/yen retail traders. Only 16.49% of traders hold net long positions, resulting in a short to long ratio of 5.07 to 1. Since yesterday, net long traders have decreased by 13.75%, and this week they have decreased by 31.34%. At the same time, net short traders grew by 8.20% daily and 19.90% weekly.
Our reverse view of public sentiment points towards the potential rise in euro/yen prices. The continuously strengthening net short position strengthens our optimistic outlook for the Euro/JPY, indicating a strong tendency towards reverse trading.
EUR/JPY daily price chart
GBP/JPY
Retail trader data shows that 22.28% of traders are net bullish, with a ratio of 3.49 to 1 between short and long positions. The number of net long traders decreased by 3.95% compared to yesterday and 10.99% compared to last week, while the number of net short traders increased by 2.60% compared to yesterday and 15.82% compared to last week.
The fact that traders are net short suggests that the GBP/JPY price may continue to rise. Traders have further net short positions compared to yesterday and last week, and the combination of current sentiment and recent changes has made our preference for reverse trading of GBP/JPY more optimistic.
GBP/JPY daily price chart
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