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Daily GBP/JPY analysis

  • #5,381
  • Jun 4, 2007 5:46pm Jun 4, 2007 5:46pm
Hopefully another bottom to fish coming up...

Quote
The economic calendar starts to heat up this week when on Tuesday traders will be keeping a keen ear on comments by Treasury Secretary Paulson who will speak on US-China Economic Relations. Any time we hear talk regarding China we have to watch the JPY crosses closely, so this may be a market mover. Also on the gamut for the week is an intraweek meeting of the G8 leaders which commences on Wednesday. Currencies are not expected to be a topic at this meeting, but with so many egos in the room* there is always a risk that a reporter can get a market moving comment out of one of the representatives.

*
  • #5,382
  • Jun 4, 2007 6:59pm Jun 4, 2007 6:59pm
Quoting 4x_Trader
Long 241.14 gbpjpy
short 121.80 usdjpy
Pls allow me to update:

GBPJPY 242.30 (+116)
USDJPY 121.67 (+13)

whew both positions are now positive big bucks to come in this hedging position not to mention the positive interest everyday!
  • #5,383
  • Jun 4, 2007 7:18pm Jun 4, 2007 7:18pm
Quoting 4x_Trader
Pls allow me to update:

GBPJPY 242.30 (+116)
USDJPY 121.67 (+13)

whew both positions are now positive big bucks to come in this hedging position not to mention the positive interest everyday!
short USDJPY you're paying interest, not collecting.
  • #5,384
  • Jun 4, 2007 7:20pm Jun 4, 2007 7:20pm
Quoting cesarnc
short USDJPY you're paying interest, not collecting.
where are you on msn?
Sorry about my english...
  • #5,385
  • Jun 4, 2007 7:22pm Jun 4, 2007 7:22pm
Asia relatively quiet so far. It could be interesting to see how the Shanghai stock market opens up later. So far markets have shrugged off the sell off.


Oh man please again no!!!!!!i hate the chinese stocks hahahhahahahahaah....
Sorry about my english...
  • #5,386
  • Jun 4, 2007 7:29pm Jun 4, 2007 7:29pm
Quoting cesarnc
short USDJPY you're paying interest, not collecting.

correct bro M paying $13.20 everyday for USDJPY but M collecting $26.40 for GBPJPY so overall M ahead of $13.20 everyday not bad uh!
  • #5,387
  • Jun 4, 2007 8:05pm Jun 4, 2007 8:05pm
Quoting 4x_Trader
correct bro M paying $13.20 everyday for USDJPY but M collecting $26.40 for GBPJPY so overall M ahead of $13.20 everyday not bad uh!
My GBPJPY only receive $22, may I ask you which broker you are with?
  • #5,388
  • Jun 4, 2007 8:22pm Jun 4, 2007 8:22pm
Quoting trader8686
My GBPJPY only receive $22, may I ask you which broker you are with?

Forex Capital Market (FXCM)
  • #5,389
  • Jun 4, 2007 8:36pm Jun 4, 2007 8:36pm
FXDD pays approximately $25.65 per day on this pair but if you can make 3 pips a day per contract = 1 day of interest

Anyone using MT4 broker with less than 8 pip spread on this pair?
  • #5,390
  • Jun 4, 2007 10:10pm Jun 4, 2007 10:10pm

Important Yen Alert! Every so often, certain market dynamics align themselves and provide a possible trade opportunity with very limited risk.

To be to the point, we believe we may see the yen pairs, (usd/jpy, gbp/jpy, eur/jpy, etc), begin to unwind providing a very good opportunity. We believe this may begin to happen as early as tonight after 5pm (EST). There are both technical and fundamental reasons why we hold this bias.

We have just shorted the USD/JPY @ 121.85 for a swing trade with our first target @ 121.20 where we will close 1/2 of our trade and move our stop loss to our entry. Our final target is 120.20. We believe it may even go further to 119.47 or even as low (but not as probably) to 118.65. We remind you that this is a swing trade, and although we may see movement in our direction as early as this evening, this is a scenario we will be patient with. A swing trade for us may last as long as 1 month.

...

** Deleted the advertisement per Forex Factory rules. **

Have A Great Trade,
Robert Sharpe


** Sent to me via email. Thought I would share here per the groups interest.
  • #5,391
  • Jun 4, 2007 10:34pm Jun 4, 2007 10:34pm
Quoting yezbick

Important Yen Alert! Every so often, certain market dynamics align themselves and provide a possible trade opportunity with very limited risk.






To be to the point, we believe we may see the yen pairs, (usd/jpy, gbp/jpy, eur/jpy, etc), begin to unwind providing a very good opportunity. We believe this may begin to happen as early as tonight after 5pm (EST). There are both technical and fundamental reasons why we hold this bias.



We have just shorted the USD/JPY @ 121.85 for a swing trade with our first target @ 121.20 where we will close 1/2 of our trade and move our stop loss to our entry. Our final target is 120.20. We believe it may even go further to 119.47 or even as low (but not as probably) to 118.65. We remind you that this is a swing trade, and although we may see movement in our direction as early as this evening, this is a scenario we will be patient with. A swing trade for us may last as long as 1 month.


...


** Deleted the advertisement per Forex Factory rules. **


Have A Great Trade,
Robert Sharpe


** Sent to me via email. Thought I would share here per the groups interest.
yezbick,

Did you say, just short from 121.85 going to 120.20 takes 1 month long? OR you maybe meaning this short opportunity will total last 1 month long?
Would you be more clear for the "swing trade" you just mentioned?
  • #5,392
  • Jun 4, 2007 10:48pm Jun 4, 2007 10:48pm
Quoting trader8686
yezbick,

Did you say, just short from 121.85 going to 120.20 takes 1 month long? OR you maybe meaning this short opportunity will total last 1 month long?
Would you be more clear for the "swing trade" you just mentioned?
From what I understood from Solomonfx.com they were saying this should happen within the next 30 days. Not that it would take 30 days to move from the points mentioned.

It appears that they were expecting this to happen @ 5:00 or at the Australian open. today 6-4-2007. Looks like it didn't happen, but their insight was interesting and thought I would pass it along.
  • #5,393
  • Jun 4, 2007 10:53pm Jun 4, 2007 10:53pm
Quoting yezbick
From what I understood from Solomonfx.com they were saying this should happen within the next 30 days. Not that it would take 30 days to move from the points mentioned.

It appears that they were expecting this to happen @ 5:00 or at the Australian open. today 6-4-2007. Looks like it didn't happen, but their insight was interesting and thought I would pass it along.
It may be like a correction which I have heard of a few times.
Just not sure when it is going to happen?
  • #5,394
  • Jun 4, 2007 10:57pm Jun 4, 2007 10:57pm
yezbick,

I just go to http://solomonfx.com/ did not see the information/news you have posted.

Should I navigate some area on that page?

trader8686
  • #5,395
  • Jun 4, 2007 10:58pm Jun 4, 2007 10:58pm
Quoting trader8686
It may be like a correction which I have heard of a few times.
Just not sure when it is going to happen?

I agree. Sounds like a correction. Not a full reversal or end of carry trades.
  • #5,396
  • Jun 4, 2007 10:59pm Jun 4, 2007 10:59pm
Quoting trader8686
yezbick,

I just go to http://solomonfx.com/ did not see the information/news you have posted.

Should I navigate some area on that page?

trader8686
The above that I placed here was sent to me via email as a solicitation to join Solomonfx and learn more about them and their info. I didn't check to see if they had the info on their site.
  • #5,397
  • Jun 4, 2007 11:04pm Jun 4, 2007 11:04pm
China Composite down 5% at this time.
  • #5,398
  • Jun 4, 2007 11:05pm Jun 4, 2007 11:05pm
Quoting yezbick
I agree. Sounds like a correction. Not a full reversal or end of carry trades.
It could be a small correction, it could be a large correction, but one thing for certain is that the carry trades will never truly end.
  • #5,399
  • Jun 4, 2007 11:09pm Jun 4, 2007 11:09pm
Not sure if just a coincident or not? A very well-known excellent trend analyser he is not show up after 5PM, today, usually he post his chart everyday after 5PM.
  • #5,400
  • Jun 4, 2007 11:11pm Jun 4, 2007 11:11pm
Quoting yezbick
China Composite down 5% at this time.
Yah, but did you see the GJ keeps going up, 242.62................ ????
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