GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Jan 19, 2021 when GBP/JPY traded near 141.75.
Number of traders net-short has decreased by 31.24% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 50.53% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Jan 19 when GBP/JPY traded near 141.75, price has moved 6.24% higher since then. The number of traders net-long is 9.48% higher than yesterday and 39.58% higher from last week, while the number of traders net-short is 23.19% lower than yesterday and 31.24% 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 Jan 19, 2021 when GBP/JPY traded near 141.75. 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.
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