Number of merchants net-short has decreased by 45.55% from final week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
GBP/JPY: Retail dealer knowledge reveals 51.29% of merchants are net-long with the ratio of merchants lengthy to brief at 1.05 to 1. In truth, merchants have remained net-long since Mar 09 when GBP/JPY traded close to 152.81, worth has moved 4.87% increased since then. The variety of merchants net-long is 25.14% increased than yesterday and 10.05% increased from final week, whereas the variety of merchants net-short is 36.78% decrease than yesterday and 45.55% decrease from final week.
We usually take a contrarian view to crowd sentiment, and the actual fact merchants are net-long suggests GBP/JPY costs might proceed to fall.
Our knowledge reveals merchants are actually net-long GBP/JPY for the primary time since Mar 09, 2022 when GBP/JPY traded close to 152.81. Traders are additional net-long than yesterday and final week, and the mix of present sentiment and up to date modifications offers us a stronger GBP/JPY-bearish contrarian buying and selling bias.