Number of traders net-short has decreased by 23.68% from last week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
50.60% |
49.40% |
6.83%
-10.00% |
-7.35%
-23.68% |
-0.68%
-17.32% |
GBP/JPY: Retail trader data shows 50.60% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Nov 24 when GBP/JPY traded near 139.63, price has moved 0.17% lower since then. The number of traders net-long is 6.83% higher than yesterday and 10.00% lower from last week, while the number of traders net-short is 7.35% lower than yesterday and 23.68% 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 Nov 24, 2020 09:00 GMT when GBP/JPY traded near 139.63. 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.
