British Pound Declines May Continue vs. JPY
GBPJPY – The ratio of long to short positions in the GBPJPY stands at 6.24 as nearly 86% of traders are long. Yesterday, the ratio was at 6.19 as 86% of open positions were long. In detail, long positions are 1.2% lower than yesterday and 13.7% stronger since last week. Short positions are 2.0% lower than yesterday and 20.2% weaker since last week. Open interest is 1.3% weaker than yesterday and 11.3% 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 email@example.com
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.