British Pound Looks like a Buy versus the Yen
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GBPJPY –Retail FX traders continue selling into British Pound strength versus the Japanese Yen, and our sentiment-based trading strategies have done well buying into GBPJPY rallies.
Trade Implications GBPJPY – Past performance is NOT indicative of future results, but our SSI-based Momentum2 strategy has done especially well trading the GBPJPY through the past two months of trading.
Said system most recently went long from ¥157.06, and a contrarian view of crowd sentiment favors further GBPJPY strength.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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