Trade Against The Retail Herd 30th Mar

What's new today?

USDJPY has been in the strong short zone with over 70% of traders long for many, many months, close to a year now. In that time we have seen sustained and continued declines, today is the first time we have seen long positions dip below 70% in almost 12 months. With all that has happened in Japan, it seems that global policy is now supporting a weakening of the yen and we expect a continued decline in retail longs as the pair moves higher.

AUDUSD is on a tear higher and is enjoying its position in the strong long zone, with over 69% of traders short the pair, ouch! EURGBP and EURUSD continue to march higher with increasing numbers of traders taking short positions.

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Provided by Pivotfarm via the Technical Analysis blog