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British Pound Targets Lows versus Japanese Yen

British Pound Targets Lows versus Japanese Yen

David Rodriguez, Head of Product
ssi_gbp-jpy_body_Picture_1.png, British Pound Targets Lows versus Japanese Yen

GBPJPY – The ratio of long to short positions in the GBPJPY stands at 1.36 as nearly 58% of traders are long. In detail, long positions are 5.4% higher than yesterday and 5.1% stronger since last week. Short positions are 5.1% higher than yesterday and 26.0% weaker since last week. Open interest is 5.3% stronger than yesterday and 10.0% 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

To receive the SSI via e-mail and other reports from author David Rodríguez, e-mail subject line “Distribution List” to drodriguez@dailyfx.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.

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