Number of traders net-short has decreased by 14.34% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
GBP/JPY: Retail trader data shows 50.64% 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 Jan 04 when GBP/JPY traded near 159.43, price has moved 2.31% lower since then. The number of traders net-long is 20.10% higher than yesterday and 18.32% higher from last week, while the number of traders net-short is 23.10% lower than yesterday and 14.34% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests GBP/JPY prices may continue to fall.
Our data shows traders are now net-long GBP/JPY for the first time since Jan 04, 2023 17:00 GMT when GBP/JPY traded near 159.43. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bearish contrarian trading bias.