British Pound Outlook Bullish vs Yen
GBPJPY – Crowds have aggressively scaled back GBPJPY long positions, giving us a modestly bullish GBPJPY bias. The ratio of long to short positions in the GBPJPY stands at -1.29 as nearly 56% of traders are short. Yesterday, the ratio was at 1.35 as 58% of open positions were long. In detail, long positions are 18.9% lower than yesterday and 64.7% weaker since last week. Short positions are 41.6% higher than yesterday and 600.0% stronger since last week. The shift towards crowd selling gives us a modestly bullish GBPJPY bias.
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