GBP/JPY IG Client Sentiment: Our data shows traders are now at their least net-long GBP/JPY since Apr 16 when GBP/JPY traded near 134.73.
Number of traders net-short has increased by 46.50% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 30.28% of traders are net-long with the ratio of traders short to long at 2.30 to 1. Our data shows traders are now at their least net-long GBP/JPY since Apr 16 when GBP/JPY traded near 134.73. The number of traders net-long is 29.46% lower than yesterday and 32.59% lower from last week, while the number of traders net-short is 39.20% higher than yesterday and 46.50% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/JPY prices may continue to rise.
Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bullish contrarian trading bias.
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