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GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Sep 23, 2021 when GBP/JPY traded near 151.35.

GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Sep 23, 2021 when GBP/JPY traded near 151.35.

Research, Research Team
GBP/JPY Client Positioning

Number of traders net-short has decreased by 31.78% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/JPY

BEARISH

50.07%

49.93%

16.56% Daily

36.06% Weekly

9.61% Daily

-31.78% Weekly

12.98% Daily

-9.08% Weekly

GBP/JPY: Retail trader data shows 50.07% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Sep 23 when GBP/JPY traded near 151.35, price has moved 1.22% higher since then. The number of traders net-long is 16.56% higher than yesterday and 36.06% higher from last week, while the number of traders net-short is 9.61% higher than yesterday and 31.78% 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 Sep 23, 2021 when GBP/JPY traded near 151.35. 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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