Number of traders net-short has decreased by 27.45% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/JPY | BEARISH | 50.92% | 49.08% |
34.47% Daily 46.56% Weekly |
-23.28% Daily -27.45% Weekly |
-1.81% Daily -2.33% Weekly |
GBP/JPY: Retail trader data shows 50.92% of traders are net-long with the ratio of traders long to short at 1.04 to 1. In fact, traders have remained net-long since Jan 20 when GBP/JPY traded near 160.62, price has moved 2.09% lower since then. The number of traders net-long is 34.47% higher than yesterday and 46.56% higher from last week, while the number of traders net-short is 23.28% lower than yesterday and 27.45% 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 Jan 20, 2023 when GBP/JPY traded near 160.62. 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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