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Daily GBP/JPY analysis

  • #5,161
  • May 30, 2007 3:18pm May 30, 2007 3:18pm
Quoting enoc2g
I would say id like to see it clear 240.50 if support holds at the 89 ema that would provide a good base for an assualt on 241.50 high
i will buy this pair soon. i would like to see it go lower before i do so. no clear reason except that i'd like to buy it cheaper.

will keep my eye on your mentioned level meanwhile. 240.50.
BAM BAM BOOM! -bravado
  • #5,162
  • May 30, 2007 3:19pm May 30, 2007 3:19pm
Quoting zamans98
going long at 239.75. Come on...

yummy... currently +50 pips Entry @239.83
  • #5,163
  • May 30, 2007 3:28pm May 30, 2007 3:28pm
Quoting zamans98
yummy... currently +50 pips Entry @239.83
Nice

Currently hitting down trendline and daily s1, with the 38 fib close it's likely make or break for this move. Still good support from the 30 min and 1hr chart, but the 15 is topping out..
  • #5,164
  • May 30, 2007 3:50pm May 30, 2007 3:50pm
Now has anyone keep update with Shanghai market today?
Dow is really and looks close with positive 3 digits, how about China?
  • #5,165
  • May 30, 2007 4:02pm May 30, 2007 4:02pm
think they are still sleeping http://www.sse.com.cn/sseportal/en_u...d/sh_b_qci.jsp
  • #5,166
  • May 30, 2007 5:31pm May 30, 2007 5:31pm
My bias is still down for GBPJPY - I have a sell at 240.09 S/L 240.70.

I trade on the 15 minute chart - the 34 ema is a good indicator for the short term direction of GJ - the pair always seems to bounce off it a couple of times before breaking through.

Its currently resting on the 34 ema on the way south as I write - I hope it continues on its its way down - no offense to those with current longs.

A lot depends on what happens with Shangai.
  • #5,167
  • May 30, 2007 5:35pm May 30, 2007 5:35pm
Quoting rs5
think they are still sleeping http://www.sse.com.cn/sseportal/en_u...d/sh_b_qci.jsp

Thanks rs5, I always wanted a real-time Shanghai index source, but didn't know where to find one.
  • #5,168
  • May 30, 2007 5:37pm May 30, 2007 5:37pm
Quoting forex_newbie
My bias is still down for GBPJPY - I have a sell at 240.09 S/L 240.70.

I trade on the 15 minute chart - the 34 ema is a good indicator for the short term direction of GJ - the pair always seems to bounce off it a couple of times before breaking through.

Its currently resting on the 34 ema on the way south as I write - I hope it continues on its its way down - no offense to those with current longs.

A lot depends on what happens with Shangai.
Yes I slightly agree too. However there is alot of data out coming Thursday and especially Friday and therefore we will get a better picture then.
However out of curiousity, if the data comes out bullish for the U.S. obviously the GBP/USD will go in favour of the U.S, but what about and which way the GBP/JPY?
  • #5,169
  • May 30, 2007 5:40pm May 30, 2007 5:40pm
Current down trendline is support now with the 23% fib and the longer term up trendline backing up that support. Converging of the 365sma and 50mma on the 30 min chart and 38% fib are making it a significant resistance level.
  • #5,170
  • Edited 6:42pm May 30, 2007 5:54pm | Edited 6:42pm
Quoting Kenu
Yes I slightly agree too. However there is alot of data out coming Thursday and especially Friday and therefore we will get a better picture then.
However out of curiousity, if the data comes out bullish for the U.S. obviously the GBP/USD will go in favour of the U.S, but what about and which way the GBP/JPY?
Bullish U.S. doesn't necessarilly equate to a bullish GU.

Remember GJ = UJ x GU

UJ has been relatively static compared to the other crosses.

By the way, I tend to trade based on the following criteria, in order of diminishing importance (those who disagree, politely let me know).

1.) Significant government action, eg. China's recent stock move

2.) Vocal annoucements by relelavant (and annoying) finance officials - eg Greenspan, Benake, EU chiefs, etc.

3.) Relevant indexes such as the Dow, US $ Index, Shanghai, etc.

4.) Fundamental results

5.) Technicals


.
  • #5,171
  • May 30, 2007 6:03pm May 30, 2007 6:03pm
Quoting forex_newbie
By the way, I tend to trade based on the following criteria, in order of diminishing importance (those who disagree, politely let me know).
.
what if someone wants to just let you know but not polite.
BAM BAM BOOM! -bravado
  • #5,172
  • May 30, 2007 6:19pm May 30, 2007 6:19pm
Forex-newbie, you are welcome. Glad to share.

How do you determine moves based on non-technical data (other markets, official speeches, etc.)??

All eyes on the China market expecting a similar domino effect as Feb......

So far,
Shanghai A-shares -6.48%
Shanghai B-shares -9.01%

Dow at 13,633.08 +111.74
Nasdaq 2,592.59 +20.53
S&P 1,530.23 +12.12

hmmmm, what next?
  • #5,173
  • May 30, 2007 6:21pm May 30, 2007 6:21pm
Quoting bravado
what if someone wants to just let you know but not polite.
bravado you are nice and I have learnt a lot from you - so I surrender if you want to fight.

I am a profitable trader who rarely speaks.
  • #5,174
  • May 30, 2007 6:24pm May 30, 2007 6:24pm
[quote=forex_newbie;1454531]Bullish U.S. doesn't necessarilly equate to a bullish GU.

Remember GJ = UJ x GU

UJ has been relevatively static compared to the other crosses.

By the way, I tend to trade based on the following criteria, in order of diminishing importance (those who disagree, politely let me know).

Is the diminishing importance 1 - 5 or 5 -1?
Do you place more or less importance on what has happened in the past or on the probability show in your technical analysis of what is going to happen in the future? Do you believe that anything in 1 - 4 might be already built in to #5? I'm very polite.
  • #5,175
  • May 30, 2007 6:32pm May 30, 2007 6:32pm
Quoting forex_newbie
bravado you are nice and I have learnt a lot from you - so I surrender if you want to fight
all that and an expert, pro, talented, gifted, extraordinary, most versatile, successful, masterful, skillful, virtuous, and most brilliant trader of all time.

some even call me the forex god.

that is all.
BAM BAM BOOM! -bravado
  • #5,176
  • May 30, 2007 6:34pm May 30, 2007 6:34pm
oh yes. i almost forgot about gj. it looks like it could go down more.
BAM BAM BOOM! -bravado
  • #5,177
  • May 30, 2007 6:38pm May 30, 2007 6:38pm
this deja-vu all over again like this morning. might get close to the 89ema. will test that like this morning. it tested and bounced back up. so watch the ma's to get the feel of the market.
  • #5,178
  • May 30, 2007 6:40pm May 30, 2007 6:40pm
[quote=asyi;1454555]
Quoting forex_newbie
Bullish U.S. doesn't necessarilly equate to a bullish GU.

Remember GJ = UJ x GU

UJ has been relevatively static compared to the other crosses.

By the way, I tend to trade based on the following criteria, in order of diminishing importance (those who disagree, politely let me know).

Is the diminishing importance 1 - 5 or 5 -1?
Do you place more or less importance on what has happened in the past or on the probability show in your technical analysis of what is going to happen in the future? Do you believe that anything in 1 - 4 might be already built in to #5? I'm very polite.
I believe it is 1-5.

1-4 provide the push, while 5, ie. technicals, determines the support levels and reversal points
  • #5,179
  • May 30, 2007 8:14pm May 30, 2007 8:14pm
Quoting bravado
all that and an expert, pro, talented, gifted, extraordinary, most versatile, successful, masterful, skillful, virtuous, and most brilliant trader of all time.

some even call me the forex god.

that is all.
Too bad you are ugly and you smell.
Mr. Trend
  • #5,180
  • May 30, 2007 8:19pm May 30, 2007 8:19pm
Quoting bravado
oh yes. i almost forgot about gj. it looks like it could go down more.
Your acct may go down but not the gbpjpy as long as the big boys are buying dips it will not collapse my friend! Peace bravado!
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