Positioning · retail sentiment · read at 08:31 UTC on 12 November 2026
CAD/JPY retail sentiment: long vs short
As of 08:31 UTC on 12 November 2026, 59% of retail traders are long CAD/JPY and 41% short, a long/short ratio of 1.44. A week earlier, on 5 November, 55% were long, so the crowd is 4 points more long this week.
The long share over 120 days
Over the 120 days the terminal holds (since 11 July), the long share has run from 9% to 70%; today's reading is higher than on 70% of those days.
The COT view beside it
Speculators in Canadian dollar futures are net short 86,302 contracts (CFTC, positions at 3 Nov), at the 21st percentile of their own range. Canadian Dollar COT positioning
Speculators in yen futures are net short 14,817 contracts (CFTC, positions at 3 Nov), at the 65th percentile of their own range. Japanese Yen COT positioning
Retail shows the crowd at retail brokers; the CFTC report shows speculators in futures, weekly. The two often sit on opposite sides. This week's full report: the COT report.
Questions
Are retail traders long or short CAD/JPY?
As of 08:31 UTC on 12 November 2026, 59% of retail traders are long CAD/JPY and 41% short, a long/short ratio of 1.44. The crowd leans long, 59% on one side.
How has CAD/JPY retail sentiment changed this week?
A week earlier, on 5 November, 55% were long, so the crowd is 4 points more long this week.
Is CAD/JPY retail positioning extreme?
Over the 120 days the terminal holds (since 11 July), the long share has run from 9% to 70%; today's reading is higher than on 70% of those days. That is inside its recent range rather than at an edge of it.
What does the COT report say about CAD/JPY?
Speculators in Canadian dollar futures are net short 86,302 contracts (CFTC, positions at 3 Nov), at the 21st percentile of their own range. Speculators in yen futures are net short 14,817 contracts (CFTC, positions at 3 Nov), at the 65th percentile of their own range.
How do traders read retail sentiment?
Many traders read it as a contrarian gauge: a crowd leaning heavily one way has often been on the wrong side of the move that follows, and is the side forced out when price runs against it. It is a description of positioning, not a signal. In WatchTower Terminal's composite score retail positioning is read that way, at a weight of 10%, alongside CFTC positioning, rates and research.
More on CAD/JPY: CAD/JPY analysis · CAD/JPY rate differential · CAD/JPY seasonality · Canadian Dollar outlook · Canadian Dollar COT positioning · BoC rate expectations · Canadian economic surprises · Japanese Yen outlook · Japanese Yen COT positioning · BoJ rate expectations · Japanese economic surprises
Other pairs: AUD/CAD 46% long · AUD/JPY 54% long · CAD/CHF 80% long · CHF/JPY 31% long · EUR/CAD 53% long · EUR/JPY 49% long · GBP/CAD 33% long · GBP/JPY 54% long · NZD/CAD 61% long · NZD/JPY 70% long · all 30
Aggregated retail broker positioning, read every 20 minutes in the terminal; this page is rebuilt through the day. Not financial advice.