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Daily GBP/JPY analysis

  • #5,541
  • Jun 6, 2007 10:25am Jun 6, 2007 10:25am
Looks like 241 could go away!!
  • #5,542
  • Jun 6, 2007 10:29am Jun 6, 2007 10:29am
Quoting Nacho_1975
Looks like 241 could go away!!
as long as it keeps on making lower highs and lower lows, im on sell mode. It just printed a few pips below 241. This may signal a breakdown.
We leave no soldier behind.
  • #5,543
  • Jun 6, 2007 10:52am Jun 6, 2007 10:52am
13:44 Would think stealth USD/JPY buyers ahead of 120.50, omg fx ninjas ready to attack.
BAM BAM BOOM! -bravado
  • #5,544
  • Jun 6, 2007 11:41am Jun 6, 2007 11:41am
Freaking game of chess trading yen pairs today... gees....
  • #5,545
  • Jun 6, 2007 11:45am Jun 6, 2007 11:45am
When I last counted a couple of hours ago, I found 13 short swings of 30 - 83 pips in GY - over 500 in total!! - since FO
Trading Levels with WRBs
  • #5,546
  • Jun 6, 2007 12:08pm Jun 6, 2007 12:08pm
Quoting cesarnc
Freaking game of chess trading yen pairs today... gees....
is gj heading up or down?
BAM BAM BOOM! -bravado
  • #5,547
  • Jun 6, 2007 12:13pm Jun 6, 2007 12:13pm
Quoting bravado
is gj heading up or down?
This 5min candle is up. Next one, I can't tell
  • #5,548
  • Jun 6, 2007 12:16pm Jun 6, 2007 12:16pm
Very Strong support at 121.00 for UJ.

It wont really close below it on 10 straight hourly candles.
  • #5,549
  • Jun 6, 2007 12:16pm Jun 6, 2007 12:16pm
Quoting cesarnc
Freaking game of chess trading yen pairs today... gees....
Im planning to buy at 241,... Any suggestions master cesar?,...
  • #5,550
  • Jun 6, 2007 12:27pm Jun 6, 2007 12:27pm
Quoting plicksboy
Im planning to buy at 241,... Any suggestions master cesar?,...
Depends how much you can take in risk actually. Not breaking 241 with this lame NYC session, is good news... But if I had to bet right now, I'd increase UJ positions since tomorrow is likely a nervous day for GBP.

121.00 is holding. You can get a risk 120.80 / reward 121.48 and above.

For tomorrow, we will have a)- no hike collapsing with last 9-0 BOE for hike, so the statement will make the difference or b) surprising hike, which I doubt.... Well, I also doubted of 9-0 last BOE minutes

On GBPJPY I'd shoot risk 240.80 / reward 241.60, for the next hours after dow jones is closed...

Very bad sessions in NYC, but dow jones is down 1% a day, far from a panic selloff. Analysts pointed -1.5% a day as a number to watch for the hell's door to open...
  • #5,551
  • Jun 6, 2007 1:52pm Jun 6, 2007 1:52pm
Quoting cesarnc
Depends how much you can take in risk actually. Not breaking 241 with this lame NYC session, is good news... But if I had to bet right now, I'd increase UJ positions since tomorrow is likely a nervous day for GBP.

121.00 is holding. You can get a risk 120.80 / reward 121.48 and above.

For tomorrow, we will have a)- no hike collapsing with last 9-0 BOE for hike, so the statement will make the difference or b) surprising hike, which I doubt.... Well, I also doubted of 9-0 last BOE minutes

On GBPJPY I'd shoot risk 240.80 / reward 241.60, for the next hours after dow jones is closed...

Very bad sessions in NYC, but dow jones is down 1% a day, far from a panic selloff. Analysts pointed -1.5% a day as a number to watch for the hell's door to open...
Thanks for the advice,...
  • #5,552
  • Jun 6, 2007 5:28pm Jun 6, 2007 5:28pm
Quoting 4x_Trader
Long 241.14 gbpjpy
short 121.80 usdjpy
Pls allow me to update:

GBPJPY 240.87 (-27 pips)
USDJPY 120.88 (+90 pips)

buy on dips my friend 240.55 is hard to crack!
  • #5,553
  • Jun 6, 2007 6:57pm Jun 6, 2007 6:57pm
I have loaded buys ever since yesterday.

121.60s
121.50s
121.40s
121.30s
121.00

We have a heavy drawdown but knowing this will go up soon.
  • #5,554
  • Jun 6, 2007 7:13pm Jun 6, 2007 7:13pm
Quoting 4x_Trader
Pls allow me to update:

GBPJPY 240.87 (-27 pips)
USDJPY 120.88 (+90 pips)

buy on dips my friend 240.55 is hard to crack!
What are your targets for GJ?
  • #5,555
  • Jun 6, 2007 7:25pm Jun 6, 2007 7:25pm
u/j could be turning taking a bounce off the long term up trend line and the 5/24 low. Should bring the others with it, looking for a close above the down trend line and previous high for confirmation.
  • #5,556
  • Jun 6, 2007 7:42pm Jun 6, 2007 7:42pm
Nice dip to reload my longs. However, I'll be carefull with tomorrow rate statement.
  • #5,557
  • Jun 6, 2007 7:47pm Jun 6, 2007 7:47pm
Cation is always good strategy, might miss out on a few pips here or there, but it pays off in the long run.
  • #5,558
  • Jun 6, 2007 7:53pm Jun 6, 2007 7:53pm
As we dont know the correct direction yet, better to space out your entries on longs so that you have enough money to sustain the drawdowns if and when they come...
  • #5,559
  • Jun 6, 2007 8:14pm Jun 6, 2007 8:14pm
Quoting shadeslay
u/j could be turning taking a bounce off the long term up trend line and the 5/24 low. Should bring the others with it, looking for a close above the down trend line and previous high for confirmation.
shaping up but it's struggling, waiting for confirmation on the 30min-1h chart. Entering on a more conservative approach if confirmed, waiting for it to make a higher low, then possibly buy into g/j.
  • #5,560
  • Jun 6, 2007 8:20pm Jun 6, 2007 8:20pm
there is bearish divergence on the RSI, Daily chart..
although, this most recent down move could be it already playing out.
my 2c
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