GBP/JPY IG Client Sentiment: Our data shows traders are now at their most net-long GBP/JPY since Dec 23 when GBP/JPY traded near 159.28.
Number of traders net-short has decreased by 25.17% 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 56.51% of traders are net-long with the ratio of traders long to short at 1.30 to 1. Our data shows traders are now at their most net-long GBP/JPY since Dec 23 when GBP/JPY traded near 159.28. The number of traders net-long is 10.59% higher than yesterday and 38.24% higher from last week, while the number of traders net-short is 0.91% lower than yesterday and 25.17% 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.
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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