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British Pound Likely to fall versus Japanese Yen

British Pound Likely to fall versus Japanese Yen

2011-05-12 14:38:00
David Rodriguez, Head of Business Development
Share:
ssi_gbp-jpy_body_Picture_12.png, British Pound Likely to fall versus Japanese Yen

GBPJPYTrading crowds remain quite near neutral on the British Pound/Japanese Yen pair, giving little strong bias as the pair remains in a tight trading range. The ratio of long to short positions in the GBPJPY stands at 1.15 as nearly 53% of traders are long. Yesterday, the ratio was at -1.10 as 52% of open positions were short. In detail, long positions are 13.8% higher than yesterday and 5.5% weaker since last week. Short positions are 10.1% lower than yesterday and 0.6% stronger since last week. Open interest is 1.3% stronger than yesterday and 35.6% below its monthly average. Continued flips between net-long and net-short make it difficult to put forth an SSI-based forecast with any real conviction.

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