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Daily GBP/JPY analysis

  • #4,321
  • May 8, 2007 7:53am May 8, 2007 7:53am
GJ and Uj might form a pin-bar in the hourly, but a nice entry would be confirmation of a pin-bar in the 4hr. 3hr to go, though...

But on confirmation, Yen frenzy may have reached its end.
  • #4,322
  • May 8, 2007 7:57am May 8, 2007 7:57am
Quoting stevetan2010
Buy at 239.026 and 235.826 cause I still strongly believe carry trade will still go on.
Me, too... Patience is important for a while, while Yen crosses chew ECB's comments (you know, the usual "currencies must reflect fundamentals")
  • #4,323
  • May 8, 2007 8:05am May 8, 2007 8:05am
Hi All,
I am not familiar with this pair, but looks like a nice long entry it's areound the 238.30, the 4H 89 EMA could hold the down movement.

Any comments?

Thanks
Ignacio
  • #4,324
  • May 8, 2007 8:09am May 8, 2007 8:09am
Quoting Nacho_1975
Hi All,
I am not familiar with this pair, but looks like a nice long entry it's areound the 238.30, the 4H 89 EMA could hold the down movement.

Any comments?

Thanks
Ignacio
Right... But this is a "anything can happen" day since Frankfurt open
  • #4,325
  • May 8, 2007 8:12am May 8, 2007 8:12am
Quoting Nacho_1975
Hi All,
I am not familiar with this pair, but looks like a nice long entry it's areound the 238.30, the 4H 89 EMA could hold the down movement.

Any comments?

Thanks
Ignacio
yeah, i am waiting for the bit rebounce here, for the momentum and rsi to confirm a bit of this bottom lag
  • #4,326
  • May 8, 2007 8:22am May 8, 2007 8:22am
Quoting cesarnc
Me, too... Patience is important for a while, while Yen crosses chew ECB's comments (you know, the usual "currencies must reflect fundamentals")
Thanks for the assurance cesarnc. I based on the fact that the bear bear has score a major victory against the bull bull at 238.36 although I know i maybe wrong. hhhmm.... Hope I did not get in the wrong time.....
  • #4,327
  • May 8, 2007 8:24am May 8, 2007 8:24am
All eyes will be on the Dow today. I sure hope they don't pick today to start profit taking.
  • #4,328
  • May 8, 2007 8:25am May 8, 2007 8:25am
I also in the trade for the following pairs
1) EUR/USD 1.35677
2) USD/CHF 1.21574
3) USD/JPY 119.609
4) GBP/USD 1.98137 => Waiting to be filled
currently all is in red though.... lol
  • #4,329
  • May 8, 2007 8:29am May 8, 2007 8:29am
Quoting stevetan2010
I also in the trade for the following pairs
1) EUR/USD 1.35677
2) USD/CHF 1.21574
3) USD/JPY 119.609
4) GBP/USD 1.98137 => Waiting to be filled
currently all is in red though.... lol
I know the feeling

A possible */JPY redemption is based on what happened previously, after those kind of comments from ECB officials...

But if Dow Jones is coming to dump stocks, then we're as good as dead
  • #4,330
  • May 8, 2007 9:27am May 8, 2007 9:27am
10:12 Dow Jones is looking soft as all of the sudden, everyone is talking about taking risk off the table. A little curious as to the timing, although we do have 3 central banks making interest rate polciy decisions this week. Usually where there is smoke, there is fire. There is some piece of news that has yet to hit the market, that is causing some unwinding, we are not buying the FOMC or the European CB's as being a reasonable answer, Stay tuned
  • #4,331
  • May 8, 2007 10:23am May 8, 2007 10:23am
With the recent drop in the price of the GBPJPY could this be due to the possible outcome that the GBP will not raise rates on May 10th?

I'm seeing mixed reports from no raise up to a .5 raise in Interest rates for the GBP.

Has anyone heard any more on this?
  • #4,332
  • May 8, 2007 10:33am May 8, 2007 10:33am
Quoting yezbick
With the recent drop in the price of the GBPJPY could this be due to the possible outcome that the GBP will not raise rates on May 10th?

I'm seeing mixed reports from no raise up to a .5 raise in Interest rates for the GBP.

Has anyone heard any more on this?
but Japan is also not about raise their rate as well. i think this is due to technical re-adjust..... GBP is still bullish
  • #4,333
  • May 8, 2007 10:37am May 8, 2007 10:37am
Quoting winwise
but Japan is also not about raise their rate as well. i think this is due to technical re-adjust..... GBP is still bullish
I agree, although to tell you the truth we are merely riding the dollar effect on the yen (dollar is surging back). The fall in GPBUSD is less than the rise in USDJPY, hence this.

I am personally gonna buy. The trend is holding, it is not dead!
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,334
  • May 8, 2007 11:33am May 8, 2007 11:33am
Quoting Plutonite
I agree, although to tell you the truth we are merely riding the dollar effect on the yen (dollar is surging back). The fall in GPBUSD is less than the rise in USDJPY, hence this.

I am personally gonna buy. The trend is holding, it is not dead!
yeah, the trend is holding, so volatility is low...... why not have a drive on EUR( short)
  • #4,335
  • May 8, 2007 4:48pm May 8, 2007 4:48pm
wow i dont know but somehow might look some more bearish coming? after this last dip. and now couple couple try outs on 238.75 resistanse.. seems just out of force. meaby some more dipping needed befour gathering up?
  • #4,336
  • May 8, 2007 5:51pm May 8, 2007 5:51pm
Quoting yezbick
With the recent drop in the price of the GBPJPY could this be due to the possible outcome that the GBP will not raise rates on May 10th?

I'm seeing mixed reports from no raise up to a .5 raise in Interest rates for the GBP.

Has anyone heard any more on this?
My take to this is unless MR Cable wants to cut down the interest rate else holding or increasing the interest rate is as good as telling the bull bull to keep going north
  • #4,337
  • May 8, 2007 5:53pm May 8, 2007 5:53pm
Quoting stevetan2010
I also in the trade for the following pairs
1) EUR/USD 1.35677
2) USD/CHF 1.21574
3) USD/JPY 119.609
4) GBP/USD 1.98137 => Waiting to be filled
currently all is in red though.... lol
Now i wake up from my pips dream it is in powerfully red. But GBP/JPY is now in black.... lol... wtf.... FOREX GODS WHERE ARE U!!!!
  • #4,338
  • May 8, 2007 9:18pm May 8, 2007 9:18pm
There will be probably a few more dips coming. Technically I think that even if it goes to 237.50 is still not a sign of reversal, but of a deeper retracement...so I also favor the upside...yet.
We leave no soldier behind.
  • #4,339
  • May 8, 2007 9:57pm May 8, 2007 9:57pm
Quoting stevetan2010
Now i wake up from my pips dream it is in powerfully red. But GBP/JPY is now in black.... lol... wtf.... FOREX GODS WHERE ARE U!!!!
I am starting to have doubts too

But there is hope yet for the bull. If this current H4 candle retraces back up like it should, then the Japanese bank that bought yen will look very sheepish.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,340
  • May 8, 2007 10:13pm May 8, 2007 10:13pm
Quoting Plutonite
I am starting to have doubts too

But there is hope yet for the bull. If this current H4 candle retraces back up like it should, then the Japanese bank that bought yen will look very sheepish.
I am now thinking along a possibility of a new uptrend channel not a major reversal for GBP/JPY pair. But I still stick to "Nothing lasts forever" fact so I am preparing myself mentally for a loss.
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