Surge in Retail Merchants’ Web-Lengthy Positions
Retail dealer information reveals that 60.00% of merchants are net-long on AUD/JPY, with a long-to-short ratio of 1.50 to 1. This marks the very best net-long place since July 26, when AUD/JPY traded round 100.60. The variety of merchants holding net-long positions has decreased by 5.34% since yesterday and 5.80% from final week. Conversely, the variety of merchants with net-short positions has dropped by 25.29% since yesterday and 20.25% from final week.
Contrarian Perspective Suggests Potential Decline
Analysts typically undertake a contrarian stance to crowd sentiment. Provided that merchants are predominantly net-long, this implies that AUD/JPY costs might proceed to say no.
Rising Bearish Sentiment
With merchants extra net-long in comparison with yesterday and final week, the mix of present sentiment and up to date traits reinforces a stronger bearish contrarian buying and selling bias for AUD/JPY.
The publish AUD/JPY IG Sentiment: Traders’ Net-Long Positions Hit Peak Since Late July appeared first on Dumb Little Man.