British Pound Forecast Holds Bearish Against Japanese Yen
The ratio of long to short positions in the GBPJPY stands at 1.32 as nearly 57% of traders are long, according to the FXCM SSI which measures the positioning of thousands of retail traders. Last week, the ratio was at -1.72 as 63% of open positions were short. Retail traders have been buying the GBPJPY and long positions are up by 23.2% since last week. The SSI is a contrarian indicator and signals more GBPJPY losses.
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