British Pound Outlook Calls for Weakness versus JPY
GBPJPY – Forex retail trading crowds are heavily long the British Pound against the Japanese Yen, but the level of net positioning remains near its least net-long since the pair crossed below key lows at the ¥128 mark. We remain bearish overall, but short-term direction seems unclear given recent directionless price action.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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