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.
Number of traders net-short has increased by 29.79% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
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.
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