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Daily GBP/JPY analysis

  • #6,441
  • Jun 20, 2007 5:06pm Jun 20, 2007 5:06pm
Bounced back at 245.90 the 38% fibonacci level.
  • #6,442
  • Jun 20, 2007 5:33pm Jun 20, 2007 5:33pm
Made judgement too early, may be it is a retracement inside a retracement.
  • #6,443
  • Jun 20, 2007 5:41pm Jun 20, 2007 5:41pm
20:37There is chatter making the rounds regarding a possible rate hike by China on Friday.
  • #6,444
  • Jun 20, 2007 5:56pm Jun 20, 2007 5:56pm
Quoting cesarnc
20:37There is chatter making the rounds regarding a possible rate hike by China on Friday.
Last Update: 4:15 AM ET Jun 20, 2007


HONG KONG (MarketWatch)-- Shanghai's Composite Index tumbled 2.1% Wednesday amid rumors China's central bank could be about to lift interest rates, traders said. Shanghai's benchmark ended 2.1% lower, tumbling 88.20 points to 4181.32. "There is a rumor there will be further interest rate hikes," said Pauline Dan, fund manager with Manulife Asset Management in Hong Kong. "The rumor has been circulating since last week, so I think there must be some discussion among People's Bank of China officials regarding interest-rate hikes, but probably there is divergence as to whether there should be a 0.27 percentage point or a 0.52 percentage point hike. The objective obviously is to try to cool off the market and target rising inflation."

Could make for some fun. 1st I heard of this gone a skewd my weekly strat
  • #6,445
  • Jun 20, 2007 5:57pm Jun 20, 2007 5:57pm
Quoting gagiul
Like Sniper said, my guess is that the most likely scenario is the same like last Friday. Asian, European or US traders didnt sell it until now, so this is showing strength. Only if BOE is gonna decide something very bad for GU, which I doubt, right after the minutes im sure its gonna jump up. EUR JPY made a correction, but GY didnt, GU looks bullish. Only if its gonna drop below 244.70-60, I will go short.
and indeed it did happen for me GY is really predictable these days. If its gonna hold these levels and not break below 245.50, I will put my TPs at 250 I hope China wont mess my carefully set-up long trades on GY.
We leave no soldier behind.
  • #6,446
  • Jun 20, 2007 6:12pm Jun 20, 2007 6:12pm
do you still think it will go down to 245.50 today
  • #6,447
  • Jun 20, 2007 6:21pm Jun 20, 2007 6:21pm
As specified yesterday, 166.10 proved to be a very strong resistance for EJ...its a double top now which will be very hard to break in the near future...i shorted at 166 and made about 50 pips and am out now and watching...
  • #6,448
  • Jun 20, 2007 6:58pm Jun 20, 2007 6:58pm
As far as EJ goes I think it's just "holding it's breath" / forming a pennant.

So give another 8 hours or so lets see where it is then. Oh Fukui still has to speak / work the house wives
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  • #6,449
  • Jun 21, 2007 2:46am Jun 21, 2007 2:46am
were do we see EJ GJ going today look like its down. there is turndown on the daily charts for both
so what do we think?
  • #6,450
  • Jun 21, 2007 3:13am Jun 21, 2007 3:13am
I am aiming for lower levels as well... Check my site if you like for some of my thoughts about these pairs.
  • #6,451
  • Jun 21, 2007 3:27am Jun 21, 2007 3:27am
two bounces off pivot 245.81 already... I went long 246.10, SL 245.77
  • #6,452
  • Jun 21, 2007 3:44am Jun 21, 2007 3:44am
I am really keen to see what happens tonight with GJ and EJ. They been quite all day. Out of sight and mind it seems. Another slump in DJIA could will more then likely see another drop. And as you pointed out China talking of a possible rate hike.

Will it see much volume tonight?
  • #6,453
  • Jun 21, 2007 3:47am Jun 21, 2007 3:47am
China is a beast, you never know what they gonna do or how the market is going to react. UJ is the first to point the direction.

I went long for quick pips this time, not planning to let it to roll.

History repeats, however, a hike in China is likely to provide nice - long expected - bottom to fish.
  • #6,454
  • Jun 21, 2007 4:08am Jun 21, 2007 4:08am
Quoting cesarnc
China is a beast, you never know what they gonna do or how the market is going to react. UJ is the first to point the direction.

I went long for quick pips this time, not planning to let it to roll.

History repeats, however, a hike in China is likely to provide nice - long expected - bottom to fish.
Please, when is the news due from China?
Eyes For Pips!
  • #6,455
  • Jun 21, 2007 4:10am Jun 21, 2007 4:10am
Quoting Ecogates
Please, when is the news due from China?
It's not scheduled. Not unusual if they release at mid-night local time
  • #6,456
  • Jun 21, 2007 4:10am Jun 21, 2007 4:10am
first prepare down to test levels 145,50 and 165,00 USD level 123,15
  • #6,457
  • Jun 21, 2007 4:14am Jun 21, 2007 4:14am
Quoting kariunas13
first prepare down to test levels 145,50 and 165,00 USD level 123,15
u meant 245.50 i suppose
  • #6,458
  • Jun 21, 2007 4:28am Jun 21, 2007 4:28am
jip sorry,
  • #6,459
  • Jun 21, 2007 4:29am Jun 21, 2007 4:29am
WOw, someone in China or Japan must have sneezed cause thats a nice spike up in GJ.
  • #6,460
  • Jun 21, 2007 4:31am Jun 21, 2007 4:31am
Quoting cesarnc
two bounces off pivot 245.81 already... I went long 246.10, SL 245.77
SL moved to B/E. Will TP at 246.50 if such... Not going to gamble for more, today
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