GBP/JPY Will it make a new Higher High ?
iam monitoring the entry for GBP/JPY so if the price will break up then i will wait on valid setup to go long or the next option is that gbp will go back in range.I expect that the move up is more favorable but we will see.
Retail trader data shows 44.2% of traders are net-long with the ratio of traders short to long at 1.26 to 1. The number of traders net-long is 12.6% higher than yesterday and 33.1% higher from last week, while the number of traders net-short is 6.7% higher than yesterday and 42.7% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBPJPY prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed GBPJPY trading bias.
Retail trader data shows 44.2% of traders are net-long with the ratio of traders short to long at 1.26 to 1. The number of traders net-long is 12.6% higher than yesterday and 33.1% higher from last week, while the number of traders net-short is 6.7% higher than yesterday and 42.7% higher from last week.
I typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests GBPJPY prices may continue to rise. Positioning is less net-short than yesterday but more net-short from last week. The combination of current sentiment and recent changes gives us a further mixed GBPJPY trading bias.
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