GBP/JPY IG Client Sentiment: Our data shows traders are now net-short GBP/JPY for the first time since May 05, 2019 when GBP/JPY traded near 145.89.
Number of traders net-short has increased by 31.39% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 50.68% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-short since May 05 when GBP/JPY traded near 145.89, price has moved 8.41% lower since then. The number of traders net-long is 5.13% lower than yesterday and 7.96% lower from last week, while the number of traders net-short is 26.76% higher than yesterday and 31.39% higher 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-short GBP/JPY for the first time since May 05, 2019 when GBP/JPY traded near 145.89. Yet traders are less net-long than yesterday and compared with last week. Recent changes in sentiment warn that the current GBP/JPY price trend may soon reverse higher despite the fact traders remain net-long.
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