
Number of traders net-short has increased by 106.19% from last week.
SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
GBP/JPY | BULLISH | 48.57% | 51.43% | -17.91% Daily -20.00% Weekly | 37.06% Daily 106.19% Weekly | 3.42% Daily 16.75% Weekly |
GBP/JPY: Retail trader data shows 48.57% of traders are net-long with the ratio of traders short to long at 1.06 to 1. In fact, traders have remained net-short since Mar 17 when GBP/JPY traded near 130.12, price has moved 2.02% higher since then. The number of traders net-long is 17.91% lower than yesterday and 20.00% lower from last week, while the number of traders net-short is 37.06% higher than yesterday and 106.19% 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 Mar 17, 2020 when GBP/JPY traded near 130.12. 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.
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