British Pound Outlook Neutral 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 -1.15 as nearly 54% of traders are short. Yesterday, the ratio was at -1.01 as 50% of open positions were short. In detail, long positions are 4.9% lower than yesterday and 4.2% stronger since last week. Short positions are 8.4% higher than yesterday and 23.9% weaker since last week. Open interest is 1.8% stronger than yesterday and 5.5% below its monthly average. We may need to wait until further sentiment extremes before taking a stronger stance on the GBPJPY.
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