Number of traders net-short has decreased by 34.07% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 50.75% | 49.25% | 22.44% 27.05% | -14.49% -34.07% | 0.97% -12.77% |
GBP/JPY: Retail trader data shows 50.75% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Jul 21 when GBP/JPY traded near 151.23, price has moved 0.38% lower since then. The number of traders net-long is 22.44% higher than yesterday and 27.05% higher from last week, while the number of traders net-short is 14.49% lower than yesterday and 34.07% 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 Jul 21, 2021 when GBP/JPY traded near 151.23. 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.
