British Pound Remains a Sell versus Japanese Yen
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – GBPJPY:According to our data sample, traders turned net-short ¥174 and with brief exceptions remained short up until two weeks ago. Positioning has moderated somewhat yet the overall directly remains relatively clear—the Japanese Yen continues to outperform versus major counterparts. It will take a more significant shift in retail FX positioning to shift our bullish JPY bias (bearish GBPJPY).
See next currency section:EURUSD - Euro Tumbles Likely to Continue Until this Changes
--- 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.