Daily GBP/JPY analysis | Page 230 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/JPY

Similar Threads

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

GBP/JPY, GBP/USD, and EUR/USD (technical analysis) 3,084 replies

Gbp/jpy = Gbp/usd X Usd/jpy ?? 5 replies

Adwa Daily GBP/JPY analysis 23 replies

Attachments: Daily GBP/JPY analysis
Exit Attachments

Daily GBP/JPY analysis

  • #4,581
  • May 16, 2007 6:55pm May 16, 2007 6:55pm
240.00 here we come yahoooo!!!
  • #4,582
  • May 16, 2007 7:06pm May 16, 2007 7:06pm
Yes.. rumors failed.

With recent data, no reason for rate hikes for a long time yet...

BTW, BOE just raised 0.25% right? and GJ was very nice before that, right? So if BOJ raises 0.25% we are just back to last week's rate differential.



I'm off UJ at this level... Poor R:R for longs, too close of short term support for short... Gonna let ir roll for a while... I'm back to bottom fishing frenzy at 120.30/50.
  • #4,583
  • May 16, 2007 7:07pm May 16, 2007 7:07pm
Quoting yezbick
240.00 here we come yahoooo!!!
Well, I wouldnt be so optimistic if it stays above 239 today, we are lucky. I guess the best possibility to make this animal move like before is to bribe a US politician to talk in our favor until it goes above 240-241...we bribe him with our future pips, hehe.
We leave no soldier behind.
  • #4,584
  • May 16, 2007 7:15pm May 16, 2007 7:15pm
Quoting gagiul
Well, I wouldnt be so optimistic if it stays above 239 today, we are lucky. I guess the best possibility to make this animal move like before is to bribe a US politician to talk in our favor until it goes above 240-241...we bribe him with our future pips, hehe.
Your right. Just caught up in the moment.

All we can hope for is the daily volatility to increase at least to normal. 150 pips a day would be nice.

Not to fond of these 80 pip days.

It seems that it moves north slow and falls south very quickly. 1 day to drop and 4 days to return it back to where it started from.
  • #4,585
  • May 16, 2007 7:54pm May 16, 2007 7:54pm
Quoting Plutonite
gagiul: EURUSD is nearing extremely overbought conditions now (statistical). I am going short very soon. Just my 2 cents.
And indeed, statistics triumphed and we shorted 2 pips away from the top, made 79 pips going down.

Boring times for GJ, so we can't be blamed for raising these issues! A-U good for a powerful buy now as well, for those who don't wanna risk the nasty GJ, especially as GBPUSD is looking to fall further and USDJPY rise is uncertain, so we have the 2 main factors playing against each other. I would be abandoning any GJ long position held previously. No idea where it will go right now.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,586
  • May 16, 2007 8:26pm May 16, 2007 8:26pm
Quoting yezbick
It seems that it moves north slow and falls south very quickly. 1 day to drop and 4 days to return it back to where it started from.
You are right too, this shows quite clearly a possible top. And now its struggling without much success to go over 239 again...i stay out and see what happens. Even if it goes above, I will wait for London to see the real price action, coz I dont rely much on these Asians fakers.
We leave no soldier behind.
  • #4,587
  • May 16, 2007 8:51pm May 16, 2007 8:51pm

we might have a HS on the hourly...breaking below 238.50 would mean shorts are back

We leave no soldier behind.
  • #4,588
  • May 16, 2007 11:29pm May 16, 2007 11:29pm
BOJ nine-member policy board voted unanimously to maintain the target for the overnight call rate at 0.5%.
  • #4,589
  • May 17, 2007 4:04am May 17, 2007 4:04am
I wonder if I should see this breakout above 239 a glorious victory for the carry trades or just another weak try to lick the 239.50 level's candy?
We leave no soldier behind.
  • #4,590
  • May 17, 2007 4:57am May 17, 2007 4:57am
Have long GBP/JPY, AUD/JPY and EUR/JPY long ago guess it didn't work out. But one thing console is that I am earning interest while holding. lol.......
  • #4,591
  • May 17, 2007 10:30am May 17, 2007 10:30am
I have been following this thread for quite some time....are there any active gbp\jpy traders here.....

Also thanks........ceasernc for all your help in difficult trading situations

I am currently short on GBP\JPY @ 239.38 and I have a stop @ 240.38...

I am looking for 237.38........Lets see what happens with this trade.
  • #4,592
  • May 17, 2007 10:40am May 17, 2007 10:40am
does anyone see any yen cross correction anytime soon esepcially for g/j? Or was that dip to 235 a couple of weeks ago the correction?
  • #4,593
  • May 17, 2007 10:45am May 17, 2007 10:45am
Quoting yezbick
Your right. Just caught up in the moment.

All we can hope for is the daily volatility to increase at least to normal. 150 pips a day would be nice.

Not to fond of these 80 pip days.

It seems that it moves north slow and falls south very quickly. 1 day to drop and 4 days to return it back to where it started from.

Love the 1 day drops and 4 days up Interest is very good to me
  • #4,594
  • May 17, 2007 10:50am May 17, 2007 10:50am
Quoting khmr
does anyone see any yen cross correction anytime soon esepcially for g/j? Or was that dip to 235 a couple of weeks ago the correction?
I am long now, and see no major correction before 239.85 GJ, or 121.56 UJ. It looks like a rally to me.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #4,595
  • May 17, 2007 11:09am May 17, 2007 11:09am
I just decided to go off market.... Gonna wait for some sort of correction in the Yen pairs as to find out where are the supports now...

Poor expected R:R for longs now, given the toppish trading, although the 1hr seems to be setting up for a break up.

But I'm not going to short that just after BOE rasing rates and BOJ not.

Gu and EU are just disgusting today... I took like 3 hours to make 15 pips. Gonna wait for some sort of definition there too.

no clear trades across the board and tomorrow is Friday, to add to my disgust. Maybe some scalping out of CAD and GBP on Retail Sales...

UJ an exception, this week was just a damn joke.
  • #4,596
  • May 17, 2007 11:28am May 17, 2007 11:28am
Just pop up here... off-topic but could reflect in GJ...

and dow jones is back below the water after printing new highs....

12:25 We think EUR/JPY a sale on a false break of 164...A bit brave but good risk/reward (risk 164.20, reward 163.35)
  • #4,597
  • May 17, 2007 11:40am May 17, 2007 11:40am
Looking at cable and Euro it looks to me like they are waiting on what GBP/JPY does as it approaches 239.75 resistance level.

Strong repulsion should see euro and GBP drop

What do you guys think?
  • #4,598
  • May 17, 2007 11:55am May 17, 2007 11:55am
Quoting el_duende
Looking at cable and Euro it looks to me like they are waiting on what GBP/JPY does as it approaches 239.75 resistance level.

Strong repulsion should see euro and GBP drop

What do you guys think?
I am a bit new to this pair..........I am looking at T.A and it seems that everything is overbought acc to stochs and RSI on a daily and weekly basis...
I understand at the end of the day the fundamentals run a currency but ....surely overbought is overbought.....I mean we have had a drop to 236 but I dont think that was a true correction....Then when will this pair fall....

A double top formation @241 and now it has been trying for over a month to break the 239.65...without success do they give up....

Also re: gbp\jpy break...how does that affect the gbp and eur...
I am a tic confused......

One more question..? If any experts could advise.....
I have a stop for my order @ 240.38...
An order in at 239.38....Do you think I should increase my stop ....

Any advice would be appreciated
Once again
Thank you
  • #4,599
  • May 17, 2007 12:07pm May 17, 2007 12:07pm
Quote
12:25 We think EUR/JPY a sale on a false break of 164...A bit brave but good risk/reward (risk 164.20, reward 163.35)

Will be a double top as well on the charts, ive got orders ready to sell myself

Lots of currencies seem to be coming together nicely for a drop very soon

Im now short on

GBP/USD
EUR/USD
GBP/JPY
EUR/JPY

Rav700 I think the stop looks ok to me but like you I am a novice when it comes to GBP/JPY
  • #4,600
  • May 17, 2007 12:07pm May 17, 2007 12:07pm
Quoting el_duende
Looking at cable and Euro it looks to me like they are waiting on what GBP/JPY does as it approaches 239.75 resistance level.

Strong repulsion should see euro and GBP drop

What do you guys think?
It is what I wait for to start loading the truck again with dips. All Yen pairs...
4 traders viewing now