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Daily GBP/JPY analysis

  • #5,861
  • Jun 11, 2007 3:42am Jun 11, 2007 3:42am
So far this morning - European time - the last H & L of the Asian session (239.50 & 238.97) have held and provided nice scalps, but its now looking as if it wants to break out to the upside....
Trading Levels with WRBs
  • #5,862
  • Edited 9:03am Jun 11, 2007 8:37am | Edited 9:03am
Ranging for the whole day now :-/

anyone think we are back on the uptrend or is it too quick to say so ?

EMA50 on H1 is still giving a hard time to break thru but EMA50 M15 and M30 have allready gave up
  • #5,863
  • Jun 11, 2007 9:12am Jun 11, 2007 9:12am
Quoting melpheos
Ranging for the whole day now :-/

anyone think we are back on the uptrend or is it too quick to say so ?

EMA50 on H1 is still giving a hard time to break thru but EMA50 M15 and M30 have allready gave up
In my present perspective we have more potential to the downside still than continuing the reversal. Rgds
tiku
always expect the unexpected!
  • #5,864
  • Jun 11, 2007 9:14am Jun 11, 2007 9:14am
GBP/JPY trading at 239.52...any suggestions? ...Right now I exited my short because I have no clear idea as to what to expect.
  • #5,865
  • Jun 11, 2007 9:16am Jun 11, 2007 9:16am
Quoting syerram2
GBP/JPY trading at 239.52...any suggestions? ...Right now I exited my short because I have no clear idea as to what to expect.
smart move...

I have a hedge ATM and i'm just waiting for a clear end of the downtrend. I think the best is to do........... nothing....

It's a dead day today except maybe for CHF and NZD...
  • #5,866
  • Jun 11, 2007 10:01am Jun 11, 2007 10:01am
I would say, its good to look at the stochs according to TEB system. The daily time frame stoch shows an up cross, the 4h time frame stoch is undecided, I would wait for it to move underneath the 50% line and cross up and than use the 30min as a trigger (when it crosses up being below the 50%). I would also look at the 20 sma and the 50 ema, being on the wrong side of the price.

Any opinions...

Mike
  • #5,867
  • Jun 11, 2007 10:21am Jun 11, 2007 10:21am
Quoting mcv-exchange
Here's some reversal times to look out for (magenta vertical lines).... Let's see if they are worth anything. All times are mt4 times. Long term target will be the 244.xx-245.xx area.... I'll fine tune the target as time goes on.

Pay Attention to these reversal times:
6-11-07 11:45 MT4 TIME/6-11-07 5:45 a.m. EST
6-11-07 18:15 MT4 TIME/6-11-07 12:15 p.m. EST
Price will usually establish a good pivot at these times and then reverse in the opposite direction.
As i mentioned before if this 237.66 low is broken look for 234 to come into play.
So, Did you see a reversal ?
  • #5,868
  • Jun 11, 2007 10:39am Jun 11, 2007 10:39am
Quoting trader8686
So, Did you see a reversal ?
So far, I see the Low of 238.95 at 03:30 EDT and the High of 239.74 so far at 11:20 EDT
Trading Levels with WRBs
  • #5,869
  • Jun 11, 2007 11:03am Jun 11, 2007 11:03am
break of EMA50 H1 but in ichimoku kumo so.... If it goes above 239.9 we might be in a short term bull run up to EMA H4 around 240.50. A break of this EMA shoudl be a good indication that the downtrend is over
  • #5,870
  • Jun 11, 2007 11:05am Jun 11, 2007 11:05am
would it be wise to open a long if GBP/JPY breaks 239.9?
  • #5,871
  • Jun 11, 2007 11:12am Jun 11, 2007 11:12am
Quoting Islander
So far, I see the Low of 238.95 at 03:30 EDT and the High of 239.74 so far at 11:20 EDT
  • #5,872
  • Jun 11, 2007 11:16am Jun 11, 2007 11:16am
:
Quoting trader8686
  • #5,873
  • Jun 11, 2007 11:25am Jun 11, 2007 11:25am
Quoting syerram2
would it be wise to open a long if GBP/JPY breaks 239.9?

With USD/JPY not budging and GBP about to have a round 2 of falling, i don't think so
  • #5,874
  • Jun 11, 2007 11:34am Jun 11, 2007 11:34am
Quoting Basilides
With USD/JPY not budging and GBP about to have a round 2 of falling, i don't think so
Plus, there is a strong resistance at 240.11.
  • #5,875
  • Jun 11, 2007 11:39am Jun 11, 2007 11:39am
Quoting syerram2
would it be wise to open a long if GBP/JPY breaks 239.9?
Honestly, no.... It needs confirmation of the other yen pairs and there is a resistance zone between 239.80 and 240.20. If i add some .1 lots it will be above these levels.
  • #5,876
  • Jun 11, 2007 1:50pm Jun 11, 2007 1:50pm
i plan on going long if it breaks the 239.9 barrier. any suggestions?
  • #5,877
  • Jun 11, 2007 2:35pm Jun 11, 2007 2:35pm
I am long GBP/JPY at 239.91
  • #5,878
  • Jun 11, 2007 3:04pm Jun 11, 2007 3:04pm
Does anyone hear of inflation number, PPI or CPI of China?
(Wait, I think it is their Tuesday, our Monday, inflation number is due.)
  • #5,879
  • Jun 11, 2007 3:22pm Jun 11, 2007 3:22pm
Treasuries Fall as Pianalto Says Inflation `Uncomfortably High' - one of the reason today's stock market closed lower with light volume.
http://www.bloomberg.com/apps/news?p...jw&refer=bonds


There will be PPI and CPI coming later part of the week: Thu (PPI) and Fri (CPI). Expection for both number is the same : 0.6%.
  • #5,880
  • Jun 11, 2007 6:41pm Jun 11, 2007 6:41pm
Quoting trader8686
So, Did you see a reversal ?
Slow moving market today, so not much movement on the timelines...
But its easy to see how the price did change direction at those times.
Please note: that these "timelines" can be a with the trend move or a countertrend move.... the goal is to lock in profits ASAP. So I guess "reversal" is not the best choice of words. I don't mean that the pair will reverse its trend... but it will temporarily switch directions.
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