Variety of merchants net-short has elevated by 46.50% from final week. SYMBOL
Variety of merchants net-short has elevated by 46.50% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/JPY |
BULLISH |
30.28% |
69.72% |
-29.46%
-32.59% |
39.20%
46.50% |
7.51%
8.09% |
GBP/JPY: Retail dealer information reveals 30.28% of merchants are net-long with the ratio of merchants brief to lengthy at 2.30 to 1. Our information reveals merchants at the moment are at their least net-long GBP/JPY since Apr 16 when GBP/JPY traded close to 134.73. The variety of merchants net-long is 29.46% decrease than yesterday and 32.59% decrease from final week, whereas the variety of merchants net-short is 39.20% greater than yesterday and 46.50% greater from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-short suggests GBP/JPY costs might proceed to rise.
Merchants are additional net-short than yesterday and final week, and the mixture of present sentiment and up to date modifications offers us a stronger GBP/JPY-bullish contrarian buying and selling bias.