Forexrobots24

forex advisor developer

GBP/JPY IG Client Sentiment: Our data shows traders are now net-short GBP/JPY for the first time since Jun 26, 2020 when GBP/JPY traded near 132.21.

GBP/JPY Client Positioning

Number of traders net-short has increased by 6.71% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/JPY

BULLISH

48.71%

51.29%

-32.13% Daily

-30.09% Weekly

17.78% Daily

6.71% Weekly

-13.29% Daily

-15.07% Weekly

GBP/JPY: Retail trader data shows 48.71% of traders are net-long with the ratio of traders short to long at 1.05 to 1. In fact, traders have remained net-short since Jun 26 when GBP/JPY traded near 132.21, price has moved 1.61% higher since then. The number of traders net-long is 32.13% lower than yesterday and 30.09% lower from last week, while the number of traders net-short is 17.78% higher than yesterday and 6.71% 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 Jun 26, 2020 when GBP/JPY traded near 132.21. 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.