Daily GBP/JPY analysis

Quoting sami772

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hi Yezbick
will you please send the indicators you used and the templet,

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Quoting braveheart

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any tips for gj today?

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Quoting yezbick

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Found this in the news on the factory should answer your ?

http://forexfactory.com/showthread.php?t=31133

http://forexfactory.com/image.php?u=...ine=1158449536

http://www.forexfactory.com/images/icons/icon1.gif UK GDP growth preview
The UK economy has recorded positive quarterly GDP figures for the last 10 years and an extreme figure remains highly unlikely for the first quarter of 2007.

The services sector should post firm growth while the manufacturing contribution is likely to be limited. There will be some risk of an erratic primary-sector figure on volatility in energy production which could distort the headline figure while net exports will tend to weaken growth.

Markets will also look at inflation estimates within the data, although there have been several more recent inflation reports and the reaction will be centred almost entirely on the headline GDP reading

Sterling is likely to advance on a figure of 0.8% or higher for the quarter while the UK currency will be sold if growth is 0.6% or lower. Given optimism over UK growth trends, there is likely to be a bigger reaction to weaker than expected data rather than strong data. Indeed, a figure of 0.5% would be likely to result in sharp Sterling selling.

Overall, given that weather conditions were generally favourable during the quarter, the underlying risk is for a slightly stronger than expected initial reading.
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Analysis by Investica LTD

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Quoting cesarnc

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Now this is one nice piece of a thread, as are the people.

In a day that not much happened from the European session open, few posts. Makes sense. No market, no B.S.

Finally, no armaggedon for the prophets to dump their "told you so"s. As even I was caught on this B.S and lost this amazing 200 pips move from the bottom. Greenspan, Bloomberg et al., nothing happened.

China's gonna blow? HELL YES! When? Hard to tell. This last Shanghai's session, closing GREEN after the NYSE selloff, carry trades selloff, nikkei selloff I would name it "The Finger", for the apocalypse prophets popping up every 50 pips GJ goes down.

Carry trades have another 1 thousand pips to go up mininum this year, mark my words.

Keep it up!

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The daily trading band, which represents a daily limit for appreciation or deprecation of the Chinese yuan against the US dollar, was widened to 0.5 percent from 0.3 percent effective May 21, 2007. The People’s Bank of China has enacted this measure amidst major pressure from its international trade partners of which US was the most aggressive voice. The main purpose of this change is to allow the yuan to rise against the US dollar faster, but given the small value of the actual band widening, markets should not expect wild fluctuations or rapid appreciation of the Chinese currency.
(...)
The People’s Bank of China has said that their exchange management methods will not change, and a basket of currencies will still be used as a reference for the yuan exchange rate so as to avoid sharp fluctuations. Since the US, Euro-zone, Japan and South Korea are China's biggest trading partners, their currencies were naturally established as the main ones in the basket when the composition was initially revealed in August 2005. Also included in the calculation were: the Singapore dollar, the British pound, the Malaysian ringgit, the Russian rouble, the Australian dollar, the Thai baht and the Canadian dollar.

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`Large' Yuan Gain Would Hurt China's Economy, Wu Tells Officials in U.S.

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Major US Investment firm raises UK rate forcast to 6% by year end

Quoting NewstraderFX

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From a technical view, there are a lot of bearish indicators for GBP/JPY as illustrated in the chart.

The rising wedge isn't seen very often, but histoy says it's a strong bearish indiactor. Current price, besides being at the highest level in 15 years is around 8% over the 200 day MA. The divergence of the momentum indicator and trend. A lot of other charts, like the DOW, S&P 500 and EUR/JPY look exactly the same

Finally-the "sell in May and go away" phenomenon didn't come to pass, but be aware that "The swoon in June is coming soon". OK I made that last one up-lol

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Quoting NewstraderFX

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"Swoon"

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Quoting cesarnc

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Quoting aslan

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LOL

maybe once we make ££ tradin gj we can buy one of those flights branson offers to go to space and see the source gj close up

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Quoting Bemac

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Hey, I never proffessed to be a graphic artist.

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Quoting trader8686

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Yezbick, Do you have any reference information,
Re: Japanese news release on:

Sun May 27
6:50pm JPYCSPI

Mon May 28

6:30pm JPYOverall Household Spending
6:50pm JPYRetail Sales
6:50pm JPYLarge Retailers' Sales

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