GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Apr 14, 2020 when GBP/JPY traded near 135.29.
Number of traders net-short has decreased by 28.79% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 52.43% of traders are net-long with the ratio of traders long to short at 1.10 to 1. In fact, traders have remained net-long since Apr 14 when GBP/JPY traded near 135.29, price has moved 1.11% lower since then. The number of traders net-long is 0.78% higher than yesterday and 30.15% higher from last week, while the number of traders net-short is 38.96% lower than yesterday and 28.79% 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 Apr 14, 2020 when GBP/JPY traded near 135.29. 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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