[ad_1]
Number of traders net-short has decreased by 51.73% from last week.
| SYMBOL | TRADING BIAS | NET-LONG% | NET-SHORT% | CHANGE IN LONGS | CHANGE IN SHORTS | CHANGE IN OI |
|---|---|---|---|---|---|---|
| GBP/JPY | BEARISH | 51.13% | 48.87% |
19.30% Daily 8.51% Weekly |
-34.56% Daily -51.73% Weekly |
-14.93% Daily -32.60% Weekly |
GBP/JPY: Retail trader data shows 51.13% of traders are net-long with the ratio of traders long to short at 1.05 to 1. In fact, traders have remained net-long since Sep 26 when GBP/JPY traded near 154.66, price has moved 4.03% higher since then. The number of traders net-long is 19.30% higher than yesterday and 8.51% higher from last week, while the number of traders net-short is 34.56% lower than yesterday and 51.73% 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 Sep 26, 2022 when GBP/JPY traded near 154.66. 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.
[ad_2]
Source link
