GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Jul 21, 2021 when GBP/JPY traded near 151.23.
Number of traders net-short has decreased by 34.07% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 50.75% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Jul 21 when GBP/JPY traded near 151.23, price has moved 0.38% lower since then. The number of traders net-long is 22.44% higher than yesterday and 27.05% higher from last week, while the number of traders net-short is 14.49% lower than yesterday and 34.07% 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 Jul 21, 2021 when GBP/JPY traded near 151.23. 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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