Daily GBP/JPY analysis

i should of held onto my adds im thinking, but maybe we get another small dip where i can pile some back on again

aww well put some in bank, and based is secure should be lots of opportunity to build in future dips

Longed a first position (1/4 position = 1/4 of max exposure) yesterday at 241.15 and will be adding more slowly. No S/L as ussual : target 260 in 2-3 months.

Also longed 1/2 position AUDJPY at 102.80 and 1/2 EURJPY at 164.97 in seperate accounts. Will add more aggressive here and (partial) TP more often.

WOW 41.15 entry what part of world do u live, my lowest print was 43.96, i suspect a typo LOL

I would take out my long sword for USD CAD now, still keeping my skirmish weapons its at the low of the correction channel, so maybe I will try a skirmish long.

Did you learn nothing from your previous account's blow up? or are you just trolling the forum?

agreed. not much changed since last asian session.

bears are lurking.

Yeah, I also got long at 230 yesterday I think you got the low wrong man.

great, i think low

USD comes under pressure - - - again with the exception of USDJPY

but what time?

I still intend on bear hunting for the remainder of the week. Loading the gun on dips. I just think the market is waiting to the news out of US.

And did anyone get my picture joke thingy?


It is called a doji. And that what was forming on the charts. Closed longs on Yens for as bravado keeps saying

Pips after pips after pips of prophet

yes, market is waiting to the news of US.

Not that I try to catch bottoms, but I have yesterday's (I'm at CET) low at 243.97 and longed it on its way up at 245.15.

edit: And anly after this reply I noticed my typo

longs waiting at 45.61

my avater is tehran earth quack... 2days ago

g j down, i think

LONDON SUMMARY
London traders took a well-deserved breather in the session leading up to the US Federal Open Market Committee (FOMC) Rate Decision and accompanying statement. Though analysts around the globe are certain that the Fed will not make a change in the level of US interest rates, the commentary to follow may provide indications as the future direction of rates, and therefore affect markets around the globe. With the uncertainty looming, it was not surprising to see a general calming in today’s trading, especially considering the torrid pace over this week. Nonetheless, the carry trade again took center stage as fears subsided, leading to largely neutral/positive price action in related currencies.

There was no single currency pairs that dominated today’s activity, so a broad overview is appropriate. EURUSD opened London at the highs near 1.3475. The pair moved straight down with a heavy EURJPY, putting in a low at 1.3440. It has since rebounded to 1.3460. USDJPY traded in a tight 30+ pip range between 122.90 and 123.20. EURJPY declined off the open with EURUSD, dropping about 50 pips from 165.90. The cross has followed EURUSD back higher, recouping most losses. GBPUSD was a big winner from a technical standpoint. European traders ran the pair through 2.00 to a high around 2.0045. It backed off with commentary from the MPC, briefly dipping back below 2.00. Although the absolute gain on the day was inconsequential for Cable, the previous (short-term) highs of 2.0015 were breached, which may lead to future gains for the currency pair.

While Japanese Yen carry pairs were unchanged in a broad scope, a “relief rally” took hold in the high-yielding currencies. AUDUSD and NZDUSD both found solid advances. The former tacked on about 35 pips and continues to trade with a bid tone near the highs of 0.8450, though it finds itself in the midst of technical congestion. The latter added roughly 40 pips from the London opening level of 0.7640. It is a strong currency today, but is soft relative to the AUD. Another notable mover has been USDCAD. The pair is conceding recent gains as it currently sits at 1.0650. It saw intense selling into the open at 0130 EDT starting around 1.0700.

From here, all eyes are on Chairman Bernanke and the Fed…



Upcoming Economic Data Releases (New York Session)

0830 Canada May Industrial Product Price, consensus: -0.2% MoM

0830 US Q1 GDP Annualized, consensus: +0.8%

0830 US Q1 Core PCE, consensus: +2.2% QoQ

0830 US May Personal Consumption, consensus: +4.4%

0830 US Weekly Initial Jobless Claims, consensus: 315k

0830 US Continuing Claims, consensus: 2500k

0830 US May Help Wanted Index, consensus: 29

1415 US FOMC Rate Decision, consensus: UNCH @ 5.25%

now 245.86

good hot morning in freakin humid DC!!! :-/

Looks like everyone is waiting for rate statement, no movement whatsoever. long since yesterday on all 3 pairs. whats you all doing?

Having and early night. Stuff watching the charts flat line for 5 hours. Sleep then get up early to catch the rates. Cant make up mind whether I will go bear hunting or if I should be ready for a cow tip.

Best leave that till the morning and up to the market conditions eh.

A word for all the new guys. Seeing as you might as well learn something during the flat line.

Watching charts to much will have the same effect on your account as this cat does on the dog.

From experience

wow hot cat

Same person trained the chimp in my avatar I think. Both have deadly ninja skills.

I though I would check out my good old faithful EURCHF as it usually moves more when everything is flat lining but nay not this time. EVERYONE wants to know what the yanks will do with the rates it seem. Just justified my sleep.

Laters