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We address the problem of orientational order in frustrated interactionsystems as a function of the relative range of the competing interactions. Westudy a spin model Hamiltonian with short range ferromagnetic interactioncompeting with an antiferromagnetic component that decays as a power law of thedistance between spins, $1/r^\alpha$. These systems may develop a nematic phasebetween the isotropic disordered and stripe phases. We evaluate the nematicorder parameter using a self-consistent mean field calculation. Our main resultindicates that the nematic phase exists, at mean-field level, provided$0<\alpha<4$. We analytically compute the nematic critical temperature and showthat it increases with the range of the interaction, reaching its maximum near$\alpha\sim 0.5$. We also compute a corse-grained effective Hamiltonian forlong wave-length fluctuations. For $0<\alpha<4$ the inverse susceptibilitydevelops a set of continuous minima at wave vectors $|\vec k|=k_0(\alpha)$which dictate the long distance physics of the system. For $\alpha\to 4$,$k_0\to 0$, making the competition between interactions ineffective for greatervalues of $\alpha$.

Nematic Phase in two-dimensional frustrated systems with power law decaying interactions