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British Pound Bias Remains Bearish versus Yen

British Pound Bias Remains Bearish versus Yen

David Rodriguez, Head of Product

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ssi_gbp-jpy_1_body_Picture_12.png, British Pound Bias Remains Bearish versus Yen

The ratio of long to short positions in the GBPJPY stands at 1.67 as nearly 63% of traders are long. Yesterday, the ratio was at 1.41 as 58% of open positions were long. In detail, long positions are 10.4% higher than yesterday and 13.7% weaker since last week. Short positions are 7.0% lower than yesterday and 1.2% weaker since last week. Open interest is 3.2% stronger than yesterday and 13.6% below its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.

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

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

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