Variety of merchants net-short has decreased by 23.68% from final week. SYMBOL
Variety of merchants net-short has decreased by 23.68% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/JPY |
BEARISH |
50.60% |
49.40% |
6.83%
-10.00% |
-7.35%
-23.68% |
-0.68%
-17.32% |
GBP/JPY: Retail dealer information exhibits 50.60% of merchants are net-long with the ratio of merchants lengthy to quick at 1.02 to 1. In reality, merchants have remained net-long since Nov 24 when GBP/JPY traded close to 139.63, value has moved 0.17% decrease since then. The variety of merchants net-long is 6.83% increased than yesterday and 10.00% decrease from final week, whereas the variety of merchants net-short is 7.35% decrease than yesterday and 23.68% decrease from final week.
We sometimes take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests GBP/JPY costs could proceed to fall.
Our information exhibits merchants are actually net-long GBP/JPY for the primary time since Nov 24, 2020 09:00 GMT when GBP/JPY traded close to 139.63. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications provides us a stronger GBP/JPY-bearish contrarian buying and selling bias.