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GBP/JPY IG Client Sentiment: Our data shows traders are now net-short GBP/JPY for the first time since Sep 24, 2020 when GBP/JPY traded near 134.38.

GBP/JPY IG Client Sentiment: Our data shows traders are now net-short GBP/JPY for the first time since Sep 24, 2020 when GBP/JPY traded near 134.38.

2020-10-07 13:23:00
Research, Research Team
Share:
GBP/JPY Client Positioning

Number of traders net-short has increased by 29.79% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/JPY

BULLISH

49.24%

50.76%

0.00% Daily

-4.83% Weekly

29.33% Daily

29.79% Weekly

13.01% Daily

10.08% Weekly

GBP/JPY: Retail trader data shows 49.24% of traders are net-long with the ratio of traders short to long at 1.03 to 1. In fact, traders have remained net-short since Sep 24 when GBP/JPY traded near 134.38, price has moved 1.44% higher since then. The number of traders net-long is unchanged than yesterday and 4.83% lower from last week, while the number of traders net-short is 29.33% higher than yesterday and 29.79% 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 Sep 24, 2020 when GBP/JPY traded near 134.38. 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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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