Sterling May Rally further versus Japanese Yen
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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. Last week we did see a build in long positions, but that proved relatively short-lived. Indeed we maintain our calls for further GBPJPY gains.
See next currency section:EURUSD - Euro Poised to Test Multi-Year Lows versus Dollar
--- 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.