British Pound Outlook Bullish versus Yen
GBPJPY – Trading 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 -1.20 as nearly 55% of traders are short. Yesterday, the ratio was at -1.01 as 50% of open positions were short. In detail, long positions are 6.9% lower than yesterday and 8.3% weaker since last week. Short positions are 11.5% higher than yesterday and 37.8% stronger since last week. Open interest is 2.3% stronger than yesterday and 17.2% below its monthly average. The SSI is a contrarian indicator and signals potential GBPJPY gains.
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