Trade Implications – GBPJPY: Retail forex short positions in the GBPJPY have surged by more than 150 percent since last week—leaving total open short positions at their highest since April, 2011 when the GBPJPY was trading near ¥136.
Our sentiment-based Momentum2 strategy has accordingly gone long GBPJPY, USDJPY, and AUDJPY. We like those positions as long as crowds continue to buy into JPY weakness.
Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.