British Pound Declines May Continue vs. JPY
GBPJPY – The ratio of long to short positions in the GBPJPY stands at 1.98 as nearly 66% of traders are long. Yesterday, the ratio was at 2.26 as 69% of open positions were long. In detail, long positions are 8.6% lower than yesterday and 17.8% weaker since last week. Short positions are 4.2% higher than yesterday and 59.9% stronger since last week. Open interest is 4.7% weaker than yesterday and 8.9% below its monthly average. The modest shift towards crowd selling moderates our previous bearish bias.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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