FX Daily
COT — GBP vs JPY (net leveraged-fund position and USD differential, weekly)
Shaded area, right axis: US dollars of net notional exposure, base leg minus quote leg. implied — no GBPJPY future exists; the GBP and JPY futures books are each converted to US dollars at the close joined to the report date, and the JPY leg is subtracted from the GBP leg. Full chart and z-scores →
GBPJPY CFTC net leveraged-fund positioning by leg. GBP (weekly, contracts): Latest: 43,167 (1 Sept 2026) | Range: -90,282 to 127,689 | Trend: broadly flat; JPY (weekly, contracts): Latest: -102,188 (1 Sept 2026) | Range: -185,768 to 65,771 | Trend: falling; GBP minus JPY differential (weekly, US dollars): Latest: 11,631,440,942 (1 Sept 2026) | Range: -14,852,081,843 to 31,165,605,710 | Trend: rising.Combined Crowding
COT z-differentialGBP net long vs JPY — Extremely crowded(+60 / +3.0σ)
JPY crowded (−100)balancedGBP crowded (+100)
GBP net-spec z+1.30σ
JPY net-spec z-1.71σ
Score = (base z − quote z) × 20, clamped ±100. |score| ≥ 60 extremely crowded · 40–60 crowded · 20–40 leaning · <20 balanced.
GBP/JPY Spot (daily)
Realized Vol & Regime
Calm
RV 20d
9.1%
20d pctile (1y)
92%
RV 5d
9.9%
RV 60d
7.9%
RV 252d
7.0%
cone p10–p90
5–12%
Daily Technicals
from daily closesRSI-14
12
SMA-20
214.10
SMA-50
215.39
SMA-200
213.03
52w range
197.86–219.39
vs SMA-50
-3.40%
Intraday pivots are computed for the 7 USD majors only; this pair shows daily-close technicals.
Rate Differential
policy carryGBP policy rate3.75%
JPY policy rate1.00%
Carry (GBP−JPY)+2.75%
