Number of traders net-short has decreased by 21.99% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
BEARISH | 50.34% | 49.66% | 33.53% Daily 15.54% Weekly | -17.29% Daily -21.99% Weekly | 2.31% Daily -6.74% Weekly |
GBP/JPY: Retail trader data shows 50.34% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Dec 11 when GBP/JPY traded near 137.52, price has moved 0.02% higher since then. The number of traders net-long is 33.53% higher than yesterday and 15.54% higher from last week, while the number of traders net-short is 17.29% lower than yesterday and 21.99% 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 Dec 11, 2020 18:00 GMT when GBP/JPY traded near 137.52. 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.
