Time to SHORT GBP/JPY ?

GBP/JPY test double top in 223.74
Anybody SHORT ?

Hello ESPITIA,

I see the overall trend pretty strong to the up side. This pair had a nice 200 pip move up late last week. Looks to me like it wants to rest a bit at this price level -- 223.00 to 223.60's. As for the news, there isn't much on either side.

I see it might be a little early to sell this pair.

Just my 2 pips.

Happy Trading,

Ronny C.

It does seem like it has topped out a little. Still 40 pips below the double top which it could retest it come the London session. During the beginning of the London session and for about 8 hours there after is when it makes most of it move. That might be a good time to see its direction. On the weekly charts it has only moved up about 160 pips the past 6 weeks. So it has lost some momentum there as well as the daily.

Test 224, new max in seven years

I´m not sure, i´ll wait 224,50 for sell

comments ?

the GBP/JPY is the only pair that I never trade, this pair has a brain on its own as someone here very well put it.

just my 2 cents

Wow how much further can it go up , a 7 year high ? anyone have experience when a currency hits a huge high, does it break it pretty bad or just a little?

GBP is expected to get a boost with a rate hike.

Japs love to see JPY depreciate to as cheap as dirt. And they have been Carry Trading to keep JPY really low.

Short GBPJPY will cost you 3 pips a day in roll over fees. If you'd look at the daiy chat, you'd notice GBPJPY has been on top for 4 weeks now. 30 days x 3 pips = 90 pips you'd pay just to hold it for a month. OUCH!

Better go Long on this one when it dips

I think this pair is pretty much range bound now. I am pretty happy watching for a breakout.... either direction to place trade. The market can always go higher. I want to short it on my "gut"..... my "gut" is almost always wrong. So, still waiting on a breakout. The smart money prolly goes against my instincts.

There is a divergence betwwen the price and MACD-H in 4H, it might fall soon.

150 pips DOWN today !!!