Number of traders net-short has decreased by 51.73% 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 51.13% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Sep 26 when GBP/JPY traded near 154.66, price has moved 4.03% higher since then. The number of traders net-long is 19.30% higher than yesterday and 8.51% higher from last week, while the number of traders net-short is 34.56% lower than yesterday and 51.73% 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 Sep 26, 2022 when GBP/JPY traded near 154.66. 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.