Number of traders net-short has decreased by 25.17% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/JPY | BEARISH | 56.51% | 43.49% |
10.59% Daily 38.24% Weekly |
-0.91% Daily -25.17% Weekly |
5.27% Daily 1.01% Weekly |
GBP/JPY: Retail trader data shows 56.51% of traders are net-long with the ratio of traders long to short at 1.30 to 1. Our data shows traders are now at their most net-long GBP/JPY since Dec 23 when GBP/JPY traded near 159.28. The number of traders net-long is 10.59% higher than yesterday and 38.24% higher from last week, while the number of traders net-short is 0.91% lower than yesterday and 25.17% 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.
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.
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