Number of traders net-short has increased by 47.07% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 26.27% of traders are net-long with the ratio of traders short to long at 2.81 to 1. Our data shows traders are now at their least net-long GBP/JPY since Jun 11 when GBP/JPY traded near 134.40. The number of traders net-long is 10.05% lower than yesterday and 14.72% lower from last week, while the number of traders net-short is 9.94% higher than yesterday and 47.07% 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.
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.