Variety of merchants net-short has decreased by 9.50% from final week. SYMBOL
Variety of merchants net-short has decreased by 9.50% from final week.
|
SYMBOL |
TRADING BIAS |
NET-LONG% |
NET-SHORT% |
CHANGE IN LONGS |
CHANGE IN SHORTS |
CHANGE IN OI |
|
GBP/JPY |
BEARISH |
50.65% |
49.35% |
18.11%
20.85% |
-3.17%
-9.50% |
6.55%
3.69% |
GBP/JPY: Retail dealer knowledge exhibits 50.65% of merchants are net-long with the ratio of merchants lengthy to quick at 1.03 to 1. In actual fact, merchants have remained net-long since Oct 16 when GBP/JPY traded close to 136.11, worth has moved 0.30% greater since then. The variety of merchants net-long is 18.11% greater than yesterday and 20.85% greater from final week, whereas the variety of merchants net-short is 3.17% decrease than yesterday and 9.50% 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 knowledge exhibits merchants are actually net-long GBP/JPY for the primary time since Oct 16, 2020 when GBP/JPY traded close to 136.11. Merchants are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications offers us a stronger GBP/JPY-bearish contrarian buying and selling bias.