ssi_gbp-jpy_body_Picture_12.png, British Pound Likely Reversed vs JPY

GBPJPY – Forex trading crowds are their least net-short GBPJPY since the pair last traded above ¥122, and an apparent shift in sentiment favors further topside. The current SSI ratio shows that there are 1.65 traders long for every one short (62% of traders long). Yet longs are down 16.3% while shorts have jumped 32.5% since last week. We like further topside on the GBPJPY as a result.

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--- Written by David Rodriguez, Quantitative Strategist for

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