British Pound Could Falter versus Japanese Yen
GBPJPY –A sharp shift in GBPJPY sentiment leaves trading crowds almost neutral the GBPJPY after being sharply net-short. The pronounced drop in short positions gives contrarian signal that the pair may continue to decline. The ratio of long to short positions in the GBPJPY stands at -1.10 as nearly 52% of traders are short. Yesterday, the ratio was at -4.53 as 82% of open positions were short. In detail, long positions are 10.2% higher than yesterday and 36.9% stronger since last week. Short positions are 73.3% lower than yesterday and 81.8% weaker since last week. Open interest is 58.2% weaker than yesterday and 55.1% below its monthly average.
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