British Pound Outlook Bullish vs Yen
GBPJPY – The ratio of long to short positions in the GBPJPY stands at -2.13 as nearly 68% of traders are short. Yesterday, the ratio was at -2.76 as 73% of open positions were short. In detail, long positions are 11.7% higher than yesterday and 42.5% weaker since last week. Short positions are 13.7% lower than yesterday and 162.3% stronger since last week. The sharp jump in short interest gives contrarian signal that the GBPJPY may continue its recent rally.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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