British Pound Outlook Remains Bearish vs JPY
The ratio of long to short positions in the GBPJPY stands at 3.34 as nearly 77% of traders are long. Yesterday, the ratio was at 2.54 as 72% of open positions were long. In detail, long positions are unchanged from yesterday and 9.4% stronger since last week. Short positions are 23.8% lower than yesterday and 34.5% weaker since last week. Open interest is 6.7% weaker than yesterday and 4.9% below its monthly average. The SSI is a contrarian indicator and signals further GBPJPY losses.
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--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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