British Pound Outlook Bullish against Yen
GBPJPY –Trading crowds remain heavily net-short the British Pound against the Japanese Yen, giving contrarian signal to stay long into rallies. The ratio of long to short positions in the GBPJPY stands at -11.17 as nearly 92% of traders are short. Yesterday, the ratio was at -11.19 as 92% of open positions were short. In detail, long positions are 0.9% higher than yesterday and 32.4% weaker since last week. Short positions are 0.7% higher than yesterday and 194.1% stronger since last week. Open interest is 0.7% stronger than yesterday and 56.4% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY gains.
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