Our data shows traders are now net-long GBP/JPY for the first time since Jan 07, 2021 when GBP/JPY traded near 140.83.


GBP/JPY Client Positioning

Number of traders net-short has decreased by 21.34% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/JPY

BEARISH

50.08%

49.92%

35.84%
Daily

50.49%
Weekly

2.00%
Daily

-21.34%
Weekly

16.54%
Daily

3.37%
Weekly

GBP/JPY: Retail trader data shows 50.08% of traders are net-long with the ratio of traders long to short at 1.00 to 1. In fact, traders have remained net-long since Jan 07 when GBP/JPY traded near 140.83, price has moved 0.20% lower since then. The number of traders net-long is 35.84% higher than yesterday and 50.49% higher from last week, while the number of traders net-short is 2.00% higher than yesterday and 21.34% 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 Jan 07, 2021 when GBP/JPY traded near 140.83. 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.





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By Jonathan Prop

Jonathan Prop is an independent financial advisor. He has been working in finance for the last 20 years. After retiring early in his 40s, Jonathan decided to help others get to grip with financial markets, particularly his area of expertise - forex!

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