British Pound Declines May Continue vs. JPY
GBPJPY – The ratio of long to short positions in the GBPJPY stands at 4.65 as nearly 82% of traders are long. Yesterday, the ratio was at 4.80 as 83% of open positions were long. In detail, long positions are 1.5% higher than yesterday and 1.6% stronger since last week. Short positions are 4.8% higher than yesterday and 14.8% stronger since last week. Open interest is 2.1% stronger than yesterday and 7.1% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.
How do we interpret the SSI? Watch an FXCM Expo Presentation that explains the SSI.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to firstname.lastname@example.org
Contact David via Twitter at http://www.twitter.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.