Our data shows traders are now net-long GBP/JPY for the first time since Dec 22, 2021 when GBP/JPY traded near 152.35.

Our data shows traders are now net-long GBP/JPY for the first time since Dec 22, 2021 when GBP/JPY traded near 152.35.

Number of traders net-short has decreased by 23.19% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/JPY

BEARISH

50.00%

50.00%

29.96%
Daily

40.64%
Weekly

-5.52%
Daily

-23.19%
Weekly

9.41%
Daily

-0.65%
Weekly

GBP/JPY: Retail trader data shows 50.00% 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 Dec 22 when GBP/JPY traded near 152.35, price has moved 0.16% lower since then. The number of traders net-long is 29.96% higher than yesterday and 40.64% higher from last week, while the number of traders net-short is 5.52% lower than yesterday and 23.19% 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 Dec 22, 2021 when GBP/JPY traded near 152.35. 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.

element inside the element. This is probably not what you meant to do!
Load your application’s JavaScript bundle inside the element instead.

Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2022/03/09/GBPJPY-IG-Client-Sentiment-0923.html
By: Research

Written by:

10,034 Posts

View All Posts
Follow Me :

Leave a Reply

%d bloggers like this: