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British Pound Looks like a Buy versus the Yen

British Pound Looks like a Buy versus the Yen

David Rodriguez, Head of Product
ssi_gbp-jpy_body_Picture_15.png, British Pound Looks like a Buy versus the Yen

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GBPJPYRetail FX traders continue selling into British Pound strength versus the Japanese Yen, and our sentiment-based trading strategies have done well buying into GBPJPY rallies.

Trade Implications GBPJPYPast performance is NOT indicative of future results, but our SSI-based Momentum2 strategy has done especially well trading the GBPJPY through the past two months of trading.

Said system most recently went long from ¥157.06, and a contrarian view of crowd sentiment favors further GBPJPY strength.

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

ssi_gbp-jpy_body_Picture_18.png, British Pound Looks like a Buy versus the Yen

Automate our SSI-based trading strategies via Mirror Trader free of charge

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

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