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Daily GBP/JPY analysis

  • #4,161
  • Apr 30, 2007 6:08pm Apr 30, 2007 6:08pm
Oh no ---not again--another retracement!!!
How many times it has to retrace to reach the top---look at euro/jpy---enjoying the highest highs without much signs of budging---lol
let's see what this night holds for us....
GL/GT
  • #4,162
  • Apr 30, 2007 6:16pm Apr 30, 2007 6:16pm
Quoting mysticgenie
Oh no ---not again--another retracement!!!
How many times it has to retrace to reach the top---look at euro/jpy---enjoying the highest highs without much signs of budging---lol
let's see what this night holds for us....
GL/GT
Really? Let me check it out, the eur/jpy.
  • #4,163
  • May 1, 2007 5:20am May 1, 2007 5:20am
Just got a little kick off a decent news release and it Looks like smooth sailing all the way to 240.04. I cant find anythng else to hold it up. Any comments?

J
  • #4,164
  • Edited 7:03am May 1, 2007 6:53am | Edited 7:03am
This pair has touched the 95%, and the 93% on the Hourly RSI a total of 4 times so far, way overbought. There should be a correction of pretty substantial amount coming. Watching the news for a direction.
Anyone's thoughts as to a level this might happen?

8:30am CADIPPI m/m 0.9% 0.9%
8:30am CADRMPI m/m 1.5% 2.6%
10:00am USDISM Manufacturing Index 51.0 50.9
10:00am USDISM Manufacturing Prices 65.9 65.5
11:00am USDFed Chairman Bernanke Speaks
11:00am CADBOC Governor Dodge Speaks
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,165
  • May 1, 2007 7:07am May 1, 2007 7:07am
INTRA-DAY USD/JPY OUTLOOK: 119.56
Updating time : 01 May 2007 06:19 GMT

As dlr has edged higher due to cross selling in
yen, consolidation with upside bias remains for re-
test of indicated res at 119.76/77, abv wud confirm
recent upmove has resumed n extend subsequent gain
twds prev. res at 119.87.

Trade fm long side, stop +as indicated+, below
defers n risks weakness to y'day's low at 119.15...

Range Forecast
119.40 / 119.65

Resistance/Support
R: 119.77/119.87/120.00
S: 119.30/119.15/118.88

Come on folks - post your thoughts.
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,166
  • May 1, 2007 7:14am May 1, 2007 7:14am
Looking for retrace (hoping) to high 236's maybe even 235's before finding it's target in the 241.50 area. A retrace here would be very welcome and almost guarantee my target in a short time once bottom of retrace is found.

Buy all significant dips, you cannot lose money on this pair.......

As far as being overbought you are right there this pair loves to live in overbought territory.

And for the record I do not believe that 241 is top just a resting point
  • #4,167
  • Edited 7:33am May 1, 2007 7:26am | Edited 7:33am
Quoting bballfan31
Looking for retrace (hoping) to high 236's maybe even 235's before finding it's target in the 241.50 area. A retrace here would be very welcome and almost guarantee my target in a short time once bottom of retrace is found.

Buy all significant dips, you cannot lose money on this pair.......

As far as being overbought you are right there this pair loves to live in overbought territory.

And for the record I do not believe that 241 is top just a resting point

Currently the fibo if this figure doesn't go higher suggests that the 100% retracement will happen around 237.92. That might be a safe level to short. I believe we will see 236 (first target) as well. Your thoughts or anyone elses? And where is Cesar??

And before someone jumps on me about shorting....I'm not recommending it.
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,168
  • May 1, 2007 7:28am May 1, 2007 7:28am
Any thoughts Cesar where will g/j go for today?,...
  • #4,169
  • May 1, 2007 7:40am May 1, 2007 7:40am
Quoting plicksboy
Any thoughts Cesar where will g/j go for today?,...
Well Cable just printed higher than last week's high. A USD-positive news shortly is much likely to provide the dip than to stall the climb. Looking for 0030 to act as support now.

On USD-negative, Cable will print 0100 today and UJ looks ok ranging around its pivot 119.50 with 119.25 area providing bids... So, 240+ is on the cards, for sure...

I banked several lots in profit with GJ and let a tiny one to run in this toppish area.
  • #4,170
  • May 1, 2007 7:47am May 1, 2007 7:47am
Quoting cesarnc

So, 240+ is on the cards, for sure...

I banked several lots in profit with GJ and let a tiny one to run in this toppish area.
You're guess is good as mine cesar! Congrats my friend again 240-242 will be on its way in just a short while!
  • #4,171
  • May 1, 2007 8:15am May 1, 2007 8:15am
the usual carry trades B.S.

09:09Swiss Finance Minister says watching carry trades

For me, nothing but bottoms to fish
  • #4,172
  • May 1, 2007 8:16am May 1, 2007 8:16am
09:09Swiss Finance Minister says watching carry trades

buy on dips because the markets needs to fluctuate down a bit to have a momentum to resume its uptrend later...
  • #4,173
  • May 1, 2007 8:18am May 1, 2007 8:18am
09:06Omi's comments see USD/JPY get hit, but not very much new and still no indication of any official interest to stem the JPY's slide, so this dip is a buying opportunity while 119.20 holds
  • #4,174
  • May 1, 2007 8:20am May 1, 2007 8:20am
Quoting cesarnc
09:06Omi's comments see USD/JPY get hit, but not very much new and still no indication of any official interest to stem the JPY's slide, so this dip is a buying opportunity while 119.20 holds
Glad your back.
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,175
  • May 1, 2007 8:22am May 1, 2007 8:22am
Quoting Sami7
Glad your back.
Adding - Watching - we may have a move up on the 5 min and continue the move down in the USD/JPY pair.
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,176
  • May 1, 2007 8:50am May 1, 2007 8:50am
back to feet....
  • #4,177
  • May 1, 2007 9:53am May 1, 2007 9:53am
Wow, wish I shorted the GBP!
All hard work brings a profit, but mere talk leads only to poverty.
  • #4,178
  • May 1, 2007 9:55am May 1, 2007 9:55am
The dollar recovery affecting everything now. But will retrace to trend, in my opinion
Gone to a better place
  • #4,179
  • May 1, 2007 10:27am May 1, 2007 10:27am
Interestingly, we are approaching levels of resistance that go back to 1991 and 1998. The recent (January this year) peak of 241.50 was a resistance level back in those years. There followed a retracement to 221. And now we're testing it again. Sorry if someone has already made this observation.
Gone to a better place
  • #4,180
  • May 1, 2007 10:33am May 1, 2007 10:33am
Uj just dying to take 119.80/120 out.
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