Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
GBPJPY – The ratio of long to short positions in the GBPJPY stands at 1.15 as 54% of traders are long. Yesterday the ratio was 1.24; 55% of open positions were long. Long positions are 2.6% lower than yesterday and 21.6% below levels seen last week. Short positions are 4.7% higher than yesterday and 6.6% above levels seen last week. Open interest is 0.7% higher than yesterday and 3.0% above its monthly average. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the GBPJPY may continue lower. The trading crowd has grown less net-long from yesterday and last week. The combination of current sentiment and recent changes gives a further mixed trading bias.
See next currency section:EURUSD – Euro Forecast Turns Bearish as it Breaks $1.13
— 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
British Pound Outlook Mixed versus Japanese Yen
No comments:
Post a Comment