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British Pound Forecast Bullish versus Japanese Yen

By David Rodriguez, Quantitative Strategist
22 April 2010 16:20 GMT

 SSI422gbpjpy

GBPJPY – The ratio of long to short positions in the GBPJPY stands at -1.44 as nearly 59% of traders are short. Yesterday, the ratio was at -1.34 as 57% of open positions were short. In detail, long positions are 1.6% lower than yesterday and 14.9% stronger since last week. Short positions are 5.3% higher than yesterday and 16.7% stronger since last week. Open interest is 2.4% stronger than yesterday and 7.8% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY gains.

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22 April 2010 16:20 GMT