British Pound Expected to Fall Further versus Yen
Dailyfx | Jul 09, 2015 11:49AM ET
A recent shift in British pound sentiment warns that it may continue lower versus the Japanese yen. The ratio of long to short positions in the GBP/JPY stands at 1.14 as 53% of traders are long—a notable contrast to last week when traders were heavily net-short. A contrarian view of crowd sentiment leaves us watching for continued weakness, and only a large shift towards GBP-selling would shake us from our contrarian bearish trading bias.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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