GBP/JPY IG Client Sentiment: Our data shows traders are now net-short GBP/JPY for the first time since Jun 26, 2020 when GBP/JPY traded near 132.21.
Number of traders net-short has increased by 6.71% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 48.71% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Jun 26 when GBP/JPY traded near 132.21, price has moved 1.61% higher since then. The number of traders net-long is 32.13% lower than yesterday and 30.09% lower from last week, while the number of traders net-short is 17.78% higher than yesterday and 6.71% 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.
Our data shows traders are now net-short GBP/JPY for the first time since Jun 26, 2020 when GBP/JPY traded near 132.21. 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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