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Daily GBP/JPY analysis

Quoting 4rextrader
nice man...i think ill be out until the second week of january. plan to get in asap, to ride the major moves we could be seeing in the weakening yen in the near future.
Same here im down to roughly 25% of my orginal positions on all yen crosses & adjusting stops accordingly based on the daily closes. I was going to start piling in again lastnight on the weakness it was clearly profit taking & a stop hunt in a low volume market, just punishing weak longs & shaking them out before the run continues, but my plan so to take 2 weeks off for the holidays & I had a great year so there was no reason to chance it. If Abe gets his way he will ease till Japan is way beyond safe levels of debt & the yen is practically worthless. I mentioned this in one of these other yen threads that I believe in 2013 buying the dips on weakness & booking profits into any nice pushes upward should provide a simple yet very profitable strategy.
It works till it doesn't
At the moment, I am looking forward for a potential of "bull trap" pattern refering to the alt count in yellow. Another an exausted of bullish rally and follow by a pullback/breakout toward the lower yellow trendline would bolster to this scenario. Happy Christmas Holidays and good luck.
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Quoting DaEdge
Same here im down to roughly 25% of my orginal positions on all yen crosses & adjusting stops accordingly based on the daily closes. I was going to start piling in again lastnight on the weakness it was clearly profit taking & a stop hunt in a low volume market, just punishing weak longs & shaking them out before the run continues, but my plan so to take 2 weeks off for the holidays & I had a great year so there was no reason to chance it. If Abe gets his way he will ease till Japan is way beyond safe levels of debt & the yen is practically worthless....

nice brother...happy holidays...can't for next year!!!
Quoting Jebatfx
At the moment, I am looking forward for a potential of "bull trap" pattern refering to the alt count in yellow. Another an exausted of bullish rally and follow by a pullback/breakout toward the lower yellow trendline would bolster to this scenario. Happy Christmas Holidays and good luck.
ya, we should have at least one red week, the 8h charts in eurjpy and gbpjpy are completely vertical...
Quoting 4rextrader

nice brother...happy holidays...can't for next year!!!
Thank you sir. Hope you did well on this move as well. Happy holidays to you & the family. I look forward to a lot more learning & sharing with the many great traders like yourself that FF has to offer. I have only been a member here for a short time but there are definitely many amazing people here to share ideas with & sharpen the skills on this never ending learning curve of the markets.
It works till it doesn't
I don't like the new layout
Shamu:thumbsup:
At the moment, a valid falling wedge pattern in aqua would bolster to either alt counts in white or aqua. Otherwise, a breakout toward the bearish continuation critical line 1 would indicate that market may already in a bearish reversal trend in yellow. Merry Christmas and Happy New Year.
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Time to pump more longs soon. on GBP/JPY as well.
Abe said wants USD/JPY 90+ levels, which is helpful to exporters
my view in gbp/jpy............
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Quoting avijitpyne
my view in gbp/jpy............
Looks like its consolidating again I think the continuation move starts from the break of 138.00, if 138.00 goes we could see 141.50 before years end. Doesn't seem like there going to let these pairs pullback. PA has been straight moves up followed by consolidation & more up moves & it appears its doing the same thing again.
It works till it doesn't
The main trend is up and we can catch some pips if price retrace.

This week one trade at -80 pips closed(Monday daily) and another leg at +40 pips(still alive).Will see what will happen.

Happy trading

Regards
Prakash
I am a hunter...i kill both bulls and bears...:)
Hi guys..

This pair is trending up without any retrace.Hope every one participating in the market.

Here is my daily chart.

Regards
Prakash
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I am a hunter...i kill both bulls and bears...:)
hello all,

hope everyone had a good holiday and new year. Ill be getting into the yen as soon as next week begins and looking forward to it! any ideas on where gj is going since it just broke it's weekly resistance. From what I can tell, i don't see on my chart the next resistance point, any ideas?
Quoting 4rextrader
hello all,

hope everyone had a good holiday and new year. Ill be getting into the yen as soon as next week begins and looking forward to it! any ideas on where gj is going since it just broke it's weekly resistance. From what I can tell, i don't see on my chart the next resistance point, any ideas?
To the moon. No seriously though if you look at the monthly there's resistance roughly every 500 pips starting from 140.00 going all the way to 165.00, 145.00 might slow it down a bit but the bigger one comes at 150.00. I Woundnt consider a short until 150.00 shows failure & even then I have zero interest being the first one the party I'd rather wait for it confirm the momentum has changed. For now its all about buying on weakness & booking profits into bursts of strength.
It works till it doesn't
Quoting oathbreaker
Hi guys..

This pair is trending up without any retrace.Hope every one participating in the market.

Here is my daily chart.

Regards
Prakash
v. impressive
what are the MAs you used?
Trade As A Sniper
Quoting DaEdge
To the moon. No seriously though if you look at the monthly there's resistance roughly every 500 pips starting from 140.00 going all the way to 165.00, 145.00 might slow it down a bit but the bigger one comes at 150.00. I Woundnt consider a short until 150.00 shows failure & even then I have zero interest being the first one the party I'd rather wait for it confirm the momentum has changed. For now its all about buying on weakness & booking profits into bursts of strength.
ya after reading your comment i looked, and i saw 144.4 and then possibly 150, according to the monthly i saw 165, is that where you saw it, or did i miss it on the weekly..... if it opens flat come sunday, ill be opening a position. if it gaps up, i may wait to see if it drop first before i get in. we will see...
Quoting 4rextrader
ya after reading your comment i looked, and i saw 144.4 and then possibly 150, according to the monthly i saw 165, is that where you saw it, or did i miss it on the weekly..... if it opens flat come sunday, ill be opening a position. if it gaps up, i may wait to see if it drop first before i get in. we will see...
Yes it missed 165.00 on the weekly. I bought a little yesterday's London session in front of NFP just a small amount around 140.70 area to start so I'm watching Sunday open & will buy small pieces on weakness & hopefully again at some point monday during us session anywhere near 141.00 to 140.25 that range seems like a good spot to buy. Looking to keep average price below 141.00 Risk is clearly defined with stop around 139.60 incase the try to run stops in 140.00 & a little below area then first target 145.00 then 150.00 by early February.
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It works till it doesn't
Quoting DaEdge
Yes it missed 165.00 on the weekly. I bought a little yesterday's London session in front of NFP just a small amount around 140.70 area to start so I'm watching Sunday open & will buy small pieces on weakness & hopefully again at some point monday during us session anywhere near 141.00 to 140.25 that range seems like a good spot to buy. Looking to keep average price below 141.00 Risk is clearly defined with stop around 139.60 incase the try to run stops in 140.00 & a little below area then first target 145.00 then 150.00 by early February.
.
Hello all I am new to the forum and found this thread through twitter when looking for analysis on the GBP/JPY. I use ichikoku and candlestick analysis and little else and have been long since 135.615 on 17th December 2012.

I'm still bullish on this pair and im keeping a little journal here: http://benlawsfx.weebly.com/1/post/2...-ichimoku.html for just myself and a couple of people who are following my progress etc.

I have moved my stop up to 139 to protect some profits but other than that I'm in an "up to the moon" stance all the way. I definately feel an assault on 145.000 coming along soon.
hmmmm, different reply format...
great reading on this thread, men. Can you tell there's secrets being played on the price action...global fundamental secrets.
then we have the retracements ratios...the math of elliot wave analysis still rules, it can be affected slightly by the big wealth funds somewhat. but the nature's fibonacci increments can be found. God is good all the time to us retail traders, huh!! it's as if He has given us the power to create wealth.! I read that somewhere....OH!!!....duet. 8:18

Impulse or corrective....is the first determination, then will wave 3 be 176.4% or 376.4%.....then we must be aware of the end-of-the-year major reversal or thrust (that one is easy), of the last four.....the first two were dead-on.....then last year was off a little calendar-wise....then this year it was.....it was........aarrrggghgghhhghh....(fa lls dead)(before he could post the whole dang picture).....
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