Variety of merchants net-short has decreased by 21.99% from final week. SYMBOL
Variety of merchants net-short has decreased by 21.99% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/JPY |
BEARISH |
50.34% |
49.66% |
33.53%
15.54% |
-17.29%
-21.99% |
2.31%
-6.74% |
GBP/JPY: Retail dealer information reveals 50.34% of merchants are net-long with the ratio of merchants lengthy to quick at 1.01 to 1. Actually, merchants have remained net-long since Dec 11 when GBP/JPY traded close to 137.52, value has moved 0.02% greater since then. The variety of merchants net-long is 33.53% greater than yesterday and 15.54% greater from final week, whereas the variety of merchants net-short is 17.29% decrease than yesterday and 21.99% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests GBP/JPY costs might proceed to fall.
Our information reveals merchants at the moment are net-long GBP/JPY for the primary time since Dec 11, 2020 18:00 GMT when GBP/JPY traded close to 137.52. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date adjustments provides us a stronger GBP/JPY-bearish contrarian buying and selling bias.