GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Mar 09, 2022 when GBP/JPY traded near 152.81.
Number of traders net-short has decreased by 45.55% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
GBP/JPY: Retail trader data shows 51.29% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Mar 09 when GBP/JPY traded near 152.81, price has moved 4.87% higher since then. The number of traders net-long is 25.14% higher than yesterday and 10.05% higher from last week, while the number of traders net-short is 36.78% lower than yesterday and 45.55% 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 Mar 09, 2022 when GBP/JPY traded near 152.81. 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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