The number of net-short traders decreased by 29.00% from last week.
SYMBOL |
Trading BIAS |
LONG RET% |
NET SHORT% |
CHANGE IN LONG |
CHANGE IN SHORTS |
CHANGE IN OI |
GBP / JPY |
BEARISH |
50.08% |
49.92% |
28.93%
48.57% |
-12.39%
-29.00% |
4.36%
-3.86% |
GBP / JPY: Data on retailers show that 50.08% of retailers are network-long with the ratio of retailers long to short at 1.00 to 1. In fact, traders have remained net-long since July 09 when GBP / JPY traded close to 153.10, price has moved 1.69% lower since then. The number of net-long traders is 28.93% higher than yesterday and 48.57% higher than last week, while the number of net-short traders is 12.39% lower than yesterday and 29.00% lower than last week.
We usually consider an opposing view of crowd sentiment, and the fact that traders are network-long suggests that GBP / JPY prices may continue to fall.
Our data shows that traders are now net GBP / JPY for the first time since July 9, 2021 13:00 GMT when GBP / JPY traded close to 153.10. Traders are more online than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP / JPY bearish counter-trade forecast.