Our data shows traders are now net-short GBP/JPY for the first time since Dec 06, 2021 when GBP/JPY traded near 150.47.

Our data shows traders are now net-short GBP/JPY for the first time since Dec 06, 2021 when GBP/JPY traded near 150.47.

Number of traders net-short has increased by 6.27% from last week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/JPY

BULLISH

49.48%

50.52%

-18.02%
Daily

-15.31%
Weekly

18.12%
Daily

6.27%
Weekly

-3.03%
Daily

-5.63%
Weekly

GBP/JPY: Retail trader data shows 49.48% of traders are net-long with the ratio of traders short to long at 1.02 to 1. In fact, traders have remained net-short since Dec 06 when GBP/JPY traded near 150.47, price has moved 0.49% higher since then. The number of traders net-long is 18.02% lower than yesterday and 15.31% lower from last week, while the number of traders net-short is 18.12% higher than yesterday and 6.27% 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.

Our data shows traders are now net-short GBP/JPY for the first time since Dec 06, 2021 when GBP/JPY traded near 150.47. 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.

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Originally Posted on: https://www.dailyfx.com/forex/technical/sentiment/2021/12/22/GBPJPY-IG-Client-Sentiment-0623.html
By: Research

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