GBP/JPY Client Positioning

Variety of merchants net-short has decreased by 23.68% from final week.

SYMBOL

TRADING BIAS

NET-LONG%

NET-SHORT%

CHANGE IN LONGS

CHANGE IN SHORTS

CHANGE IN OI

GBP/JPY

BEARISH

50.60%

49.40%

6.83%
Each day

-10.00%
Weekly

-7.35%
Each day

-23.68%
Weekly

-0.68%
Each day

-17.32%
Weekly

GBP/JPY: Retail dealer information exhibits 50.60% of merchants are net-long with the ratio of merchants lengthy to quick at 1.02 to 1. In reality, merchants have remained net-long since Nov 24 when GBP/JPY traded close to 139.63, worth has moved 0.17% decrease since then. The variety of merchants net-long is 6.83% greater than yesterday and 10.00% decrease from final week, whereas the variety of merchants net-short is 7.35% decrease than yesterday and 23.68% decrease from final week.

We usually take a contrarian view to crowd sentiment, and the very fact merchants are net-long suggests GBP/JPY costs might proceed to fall.

Our information exhibits merchants are actually net-long GBP/JPY for the primary time since Nov 24, 2020 09:00 GMT when GBP/JPY traded close to 139.63. Merchants are additional net-long than yesterday and final week, and the mixture of present sentiment and up to date modifications provides us a stronger GBP/JPY-bearish contrarian buying and selling bias.