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British Pound Outlook Remains Bearish vs JPY

British Pound Outlook Remains Bearish vs JPY

2012-08-23 14:58:00
David Rodriguez, Head of Product
Share:
ssi_gbp-jpy_body_Picture_17.png, 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.

How do we interpret and trade with the SSI? Watch an FXCM Expo Presentation that explains the SSI.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List” to drodriguez@dailyfx.com; Contact David via Twitter at http://www.twitter.com/DRodriguezFX

Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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