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Daily GBP/JPY analysis

  • #5,921
  • Jun 12, 2007 7:25pm Jun 12, 2007 7:25pm
starting to form decent pa for a possible upswing, a bit of resistance on the upside though.
  • #5,922
  • Jun 12, 2007 7:50pm Jun 12, 2007 7:50pm
****

Hearing McDonalds has been a major player in UJ recently...

***

What a ego

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  • #5,923
  • Jun 12, 2007 7:51pm Jun 12, 2007 7:51pm
Quoting cesarnc
****

Hearing McDonalds has been a major player in UJ recently...

***

What a ego

good one.
BAM BAM BOOM! -bravado
  • #5,924
  • Jun 12, 2007 8:42pm Jun 12, 2007 8:42pm
Hey, is anyone short on this pair? If so, what's a good target to close the short position?
  • #5,925
  • Jun 12, 2007 8:50pm Jun 12, 2007 8:50pm
being short on this pair at this point of time would be a pretty dangerous thing to do...
  • #5,926
  • Jun 12, 2007 8:53pm Jun 12, 2007 8:53pm
the 60 area is my point of interest where it should meet the trendline if it makes it that far. Possible small short from there if it forms.
  • #5,927
  • Jun 12, 2007 8:56pm Jun 12, 2007 8:56pm
I am short this pair, and I think we are still in 61.8% retracement area.
  • #5,928
  • Jun 12, 2007 9:20pm Jun 12, 2007 9:20pm
Thanks guys!!!
  • #5,929
  • Jun 12, 2007 9:28pm Jun 12, 2007 9:28pm
Considering the recent dip down, it messes my brain. I would consider the move up just a retracement, but what scares me is the speed with which it recovers any dip down. Damn. I was long since 240, moved my stop to BE, happy to see it going above 240.50, but then I woke up only to see I was stopped out. Crap... the problem is that EU is down and GU seems to have hit the downtrend line finally, so logically it should follow Euro and go down further...
We leave no soldier behind.
  • #5,930
  • Jun 12, 2007 10:07pm Jun 12, 2007 10:07pm
4hr pin off the 200 ema (yellow line)
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  • #5,931
  • Jun 12, 2007 10:16pm Jun 12, 2007 10:16pm
Quoting goodthings
4hr pin off the 200 ema (yellow line)
So, what is this chart telling us?
  • #5,932
  • Jun 12, 2007 10:23pm Jun 12, 2007 10:23pm
Quoting trader8686
So, what is this chart telling?
It's price action, read the james16 thread he goes over them. That one says a possible long, but it's not a perfect pin, it's inside the previous price range and the eyes are far apart. Not to mention there is some serious resistance above in the 60-80 range.
  • #5,933
  • Jun 12, 2007 10:29pm Jun 12, 2007 10:29pm
Quoting shadeslay
It's price action, read the james16 thread he goes over them. That one says a possible long, but it's not a perfect pin, it's inside the previous price range and the eyes are far apart. Not to mention there is some serious resistance above in the 60-80 range.
james16 thread?
  • #5,934
  • Jun 12, 2007 10:37pm Jun 12, 2007 10:37pm
http://www.forexfactory.com/showthread.php?t=2331
  • #5,935
  • Jun 12, 2007 10:47pm Jun 12, 2007 10:47pm
Thanks, shadeslay.
  • #5,936
  • Jun 12, 2007 11:00pm Jun 12, 2007 11:00pm
Now, looks like it's going up. Any openion?
  • #5,937
  • Jun 12, 2007 11:10pm Jun 12, 2007 11:10pm
aye all the jpy currencies are going up, lol don't ask me why. Likely some big dogs pushing the price up.

The majority of them are encountering some heavy resistance though.
  • #5,938
  • Jun 12, 2007 11:20pm Jun 12, 2007 11:20pm
I gave up, this market is too tough.
  • #5,939
  • Jun 12, 2007 11:25pm Jun 12, 2007 11:25pm
looks like the japanese got upset of the current lack of movement in UY and decided to step in finally new highs in UY, and possibly in GY coming very soon.

I was holding my UY longs since last friday. Damn, this pair is really easy to trade, much easier than GY.

I guess current move in UY negates all the possible short views on GY. Carry trades back to life.
We leave no soldier behind.
  • #5,940
  • Jun 12, 2007 11:27pm Jun 12, 2007 11:27pm
Quoting trader8686
I gave up, this market is too tough.

Aye it's ruff when people push the price around.

Here's the snip it, the big boys playing there games to gain leverage.

[DLR/YEN] rises to 122.18. The timing of the rise seemed to be mostly same with the [EUR/YEN]'s rise. US names appear having tripped 121.85 stops then European names followed for further stops at the thick offered zone from 121.90 to 122.05. Strength through 122.30-35 may trigger further stops ahead of the key 122.50.
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