GBP/JPY IG Client Sentiment: Our data shows traders are now net-long GBP/JPY for the first time since Feb 19, 2020 15:00 GMT when GBP/JPY traded near 143.72.

Number of traders net-short has decreased by 33.70% from last week.

GBP/JPY: Retail trader data shows 50.31% of traders are net-long with the ratio of traders long to short at 1.01 to 1. In fact, traders have remained net-long since Feb 19 when GBP/JPY traded near 143.72, price has moved 1.72% lower since then. The number of traders net-long is 7.52% higher than yesterday and 4.29% higher from last week, while the number of traders net-short is 29.20% lower than yesterday and 33.70% 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 Feb 19, 2020 15:00 GMT when GBP/JPY traded near 143.72. 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.