British Pound Declines May Continue vs. JPY
GBPJPY – The ratio of long to short positions in the GBPJPY stands at 3.01 as nearly 75% of traders are long. Yesterday, the ratio was at 3.36 as 77% of open positions were long. In detail, long positions are 1.9% higher than yesterday and 7.7% stronger since last week. Short positions are 13.8% higher than yesterday and 20.4% weaker since last week. Open interest is 4.6% stronger than yesterday and 9.4% 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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