Variety of merchants net-short has decreased by 28.79% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
BEARISH |
52.43% |
47.57% |
0.78%
30.15% |
-38.96%
-28.79% |
-23.05%
-6.62% |
GBP/JPY: Retail dealer information reveals 52.43% of merchants are net-long with the ratio of merchants lengthy to brief at 1.10 to 1. In reality, merchants have remained net-long since Apr 14 when GBP/JPY traded close to 135.29, value has moved 1.11% decrease since then. The variety of merchants net-long is 0.78% larger than yesterday and 30.15% larger from final week, whereas the variety of merchants net-short is 38.96% decrease than yesterday and 28.79% 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 reveals merchants at the moment are net-long GBP/JPY for the primary time since Apr 14, 2020 when GBP/JPY traded close to 135.29. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date adjustments offers us a stronger GBP/JPY-bearish contrarian buying and selling bias.