Sterling Remains a buy versus Japanese Yen
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – GBPJPY:Our sample shows that traders most recently turned short GBP as it traded above ¥174 and with minor exception have remained short since then. It is certainly worth noting that sentiment has seen a more significant shift in the USDJPY—our models suggest the Dollar may have topped versus the Yen. Yet until we see a sustained turn in GBP positions we’ll continue to call for strength.
See next currency section:EURUSD - Euro Finally Shows Signs of a Lasting Turn
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.