AUD/JPY: Retail trader data shows 50.65% of traders are net-long with the ratio of traders long to short at 1.03 to 1.In fact, traders have remained net-long since Sep 05 when AUD/JPY traded near 94.15, price has moved 0.24% higher since then. The number of traders net-long is 15.92% higher than yesterday and 22.63% higher from last week, while the number of traders net-short is 2.58% lower than yesterday and 9.13% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUD/JPYprices may continue to fall.

Our data shows traders are now net-long AUD/JPY for the first time since Sep 05, 2023 18:00 GMT when AUD/JPY traded near 94.15. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/JPY-bearish contrarian trading bias.

Source https://www.dailyfx.com/analysis/AUDJPY-IG-Client-Sentiment-202309130423.html