Forexrobots24

forex advisor developer

GBP/JPY IG Client Sentiment: Our data shows traders are now net-short GBP/JPY for the first time since Feb 28, 2020 when GBP/JPY traded near 138.47.

GBP/JPY Client Positioning

Number of traders net-short has increased by 55.12% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/JPY

BULLISH

49.62%

50.38%

-6.28% Daily

-17.80% Weekly

42.75% Daily

55.12% Weekly

13.33% Daily

7.71% Weekly

GBP/JPY: Retail trader data shows 49.62% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Feb 28 when GBP/JPY traded near 138.47, price has moved 6.50% lower since then. The number of traders net-long is 6.28% lower than yesterday and 17.80% lower from last week, while the number of traders net-short is 42.75% higher than yesterday and 55.12% 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 Feb 28, 2020 when GBP/JPY traded near 138.47. 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.