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: 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.