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Home Technical Analysis

Our data shows traders are now net-short GBP/JPY for the first time since Jun 26, 2020 when GBP/JPY traded near 132.21.

Forex Tips by Forex Tips
July 10, 2020
in Technical Analysis
0
Our data shows traders are now net-short GBP/JPY for the first time since Jun 26, 2020 when GBP/JPY traded near 132.21.
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GBP/JPY Client Positioning

Number of traders net-short has increased by 6.71% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI


GBP/JPY

BULLISH

48.71%

51.29%

-32.13%
Daily

-30.09%
Weekly

17.78%
Daily

6.71%
Weekly

-13.29%
Daily

-15.07%
Weekly

GBP/JPY: Retail trader data shows 48.71% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Jun 26 when GBP/JPY traded near 132.21, price has moved 1.61% higher since then. The number of traders net-long is 32.13% lower than yesterday and 30.09% lower from last week, while the number of traders net-short is 17.78% higher than yesterday and 6.71% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/JPY prices may continue to rise.

Our data shows traders are now net-short GBP/JPY for the first time since Jun 26, 2020 when GBP/JPY traded near 132.21. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bullish contrarian trading bias.





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