British Pound Targets Lows versus Japanese Yen
GBPJPY – Forex trading crowds continue to buy into British Pound weakness against the Japanese Yen, and our sentiment-based trading strategies continue selling into GBPJPY declines with clear success.
Past performance is NOT indicative of future results, but we believe that strongly volatile markets favor trading breakdowns in the GBPJPY and other Japanese Yen pairs. Focus turns to January lows of ¥119.50 and modern lows near ¥116.80.
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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