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How GBPJPY positioning is sitting
Retail traders are currently 81% long on GBPJPY — far enough on one side that our engine reads it as an extreme, where the contrarian weight is at its strongest. That is 55 points more long than a week ago. The book has stayed net long for 3 readings in a row. Across the last 23 readings it has swung between 20% and 85% long.
We read positioning against the crowd: the more one-sided the book, the more weight it carries as a contrarian signal, and below 60% it carries none. It is one of five factors in the signal for this pair — never a trade on its own. The full read, with levels, patterns and volatility, is on the GBPJPY analysis page.