GBP/JPY IG Client Sentiment: Our data shows traders are now net-short GBP/JPY for the first time since Dec 24, 2019 11:00 GMT when GBP/JPY traded near 141.49.
Number of traders net-short has increased by 12.24% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 49.81% of traders are net-long with the ratio of traders short to long at 1.01 to 1. In fact, traders have remained net-short since Dec 24 when GBP/JPY traded near 141.49, price has moved 0.23% higher since then. The number of traders net-long is 0.76% higher than yesterday and 9.59% lower from last week, while the number of traders net-short is 9.92% higher than yesterday and 12.24% higher from last week. We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBP/JPY prices may continue to rise. Our data shows traders are now net-short GBP/JPY for the first time since Dec 24, 2019 11:00 GMT when GBP/JPY traded near 141.49. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bullish contrarian trading bias.
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