Number of traders net-short has decreased by 9.50% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 50.65% of traders are net-long with the ratio of traders long to short at 1.03 to 1. In fact, traders have remained net-long since Oct 16 when GBP/JPY traded near 136.11, price has moved 0.30% higher since then. The number of traders net-long is 18.11% higher than yesterday and 20.85% higher from last week, while the number of traders net-short is 3.17% lower than yesterday and 9.50% 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 Oct 16, 2020 when GBP/JPY traded near 136.11. 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.