British Pound Declines May Continue vs. JPY
GBPJPY – The ratio of long to short positions in the GBPJPY stands at 5.91 as nearly 86% of traders are long. Yesterday, the ratio was at 5.61 as 85% of open positions were long. In detail, long positions are 5.2% lower than yesterday and 12.2% weaker since last week. Short positions are 9.9% lower than yesterday and 0.6% stronger since last week. Open interest is 5.9% weaker than yesterday and 1.5% below 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
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