Number of traders net-short has decreased by 34.32% from last week.
CHANGE IN LONGS
CHANGE IN SHORTS
CHANGE IN OI
GBP/JPY: Retail trader data shows 50.48% of traders are net-long with the ratio of traders long to short at 1.02 to 1. In fact, traders have remained net-long since Aug 25 when GBP/JPY traded near 151.37, price has moved 1.36% lower since then. The number of traders net-long is 30.04% higher than yesterday and 4.64% higher from last week, while the number of traders net-short is 18.42% lower than yesterday and 34.32% 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 Aug 25, 2021 when GBP/JPY traded near 151.37. 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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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/09/20/GBPJPY-IG-Client-Sentiment-1725.html