Daily GBP/JPY analysis

the uj cross up the pivot point in 121.51 but the gj don t move at all.it is a ranging time ...

TEST

UJ is sleeping tight. Dunno when it is going to move.

China market down, means a good monetary control. But UJ stands still..

I don't understand this market.

Looking at 239.00 GJ or 120.00 UJ

i'm really lost...

Last mini crack on Shenzen was 10% and there was a massive unwind, last night 6% and mostly nothing until now...

Well, Shanghai tumbled as expected. Beyond 6%. No panic.... This is getting tricky...

03:38 Surprisingly London ignoring Shanghai equity market....eurjpy staying aloft

I'm thinking the smart money want to see a couple days of consistent downward movement before doing anything drastic. It's all I can think of, it's certainly a tough situation.

uj break the pivot point and gj??range range and range...

yes..."soft landing" in the carry trades, then

usdjpy at new session highs...we hear good amount of stops above 122

would be better to have a hard landing as we would not have to pay the daily swap ^^

China fall didn't spread panic, at least, so far. Europe at -0.85%. Gotta chack NYC. I'm out of the market completely.

Nice article on bloomberg.

Greenspan's China-Stock `Correction' May Not Spread (Update4)
By Simon Kennedy and Scott Lanman

http://bloomberg.com/apps/news?pid=2...y2k&refer=home

well that wasnt much of a mover the NEC that is. expected for some movement but nothing. i know it didnt get as high is expected but man. give us some movement will ya. i got up early just for this too.

The ADP figures haven't been a reliable indicator for awhile now, really. I don't know why FF still gives it the red flag.

NFP later this week will move the market, though, i'm sure.

yap. about +-30 pips.

thats what i thought was going to happen was the usd will rally to at least 30+ pips but it didnt happen. was looking at the forcast in FF said that was a major mover. they need to change that to medium.

Price has broken out of the wedge-

is anybody shorting g/y

I've been aggressively scalping shorts this pair all day/night (I'm Australian)... My next target will probably be a 1hour close below 240.40 and above 240.20. 240.00 has been a tough nut to crack but there are still some pips to be made.

I'm not about to attempt a longer term trade on this pair until we get some more information out of the Shanghai exchange. Just scalping, i've managed some 180 pips today from this pair alone so I don't see a need to push my luck during obvious volatility.

Here I go again...long at 240.27, sl 240. Happy pipping! (Thank you China. Keep on messing with the world's economy. Chaos in forex = volatility.)