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Daily GBP/JPY analysis

  • #7,741
  • Jul 2, 2007 8:28am Jul 2, 2007 8:28am
Quoting Clusterwise
Broken


How fast

I already know wave 5 is unfolding now
  • #7,742
  • Jul 2, 2007 8:32am Jul 2, 2007 8:32am
now going down
  • #7,743
  • Jul 2, 2007 8:44am Jul 2, 2007 8:44am
Quoting maksudur rahman
now going down

yeah

it's creation of wave 2 of wav5 .... to start wave the impulsive wave 3 of 5 , we need a catalyst.


I think you got what i want to say ,

Is in't there is a news at 2:00 GMT

Many thanks
  • #7,744
  • Jul 2, 2007 8:53am Jul 2, 2007 8:53am
markets is wait for usd news
  • #7,745
  • Jul 2, 2007 8:57am Jul 2, 2007 8:57am
And USD news could increase risk appetite. Meaning it has an effect on the GBPJPY. If the USDJPY starts it uptrend and bounces off the supporting TL. GBPJPY looking longer to me.

I still don't think it will stay down for long. Having a look at the NZDJPY and NZDUSD. The House wives look to be on a buying spree. Increased appetite for USD will drive the GBP up as well. Simply because it will weaken the yen further
  • #7,746
  • Jul 2, 2007 8:59am Jul 2, 2007 8:59am
Quoting Sniper
And USD news could increase risk appetite. Meaning it has an effect on the GBPJPY. If the USDJPY starts it uptrend and bounces off the supporting TL. GBPJPY looking longer to me.

I still don't think it will stay down for long. Having a look at the NZDJPY and NZDUSD. The House wives look to be on a buying spree. Increased appetite for USD will drive the GBP up as well. Simply because it will weaken the yen further

And the DJIA is looking good at it's open today. So lets see what happens
  • #7,747
  • Jul 2, 2007 8:59am Jul 2, 2007 8:59am
Quoting persian.forex
markets is wait for usd news

It's going to be bad as wave reading
  • #7,748
  • Jul 2, 2007 9:01am Jul 2, 2007 9:01am
Quoting Sniper
And the DJIA is looking good at it's open today. So lets see what happens
Most of the yen crosses look like they are being supported by the EURJPY anyway.
  • #7,749
  • Jul 2, 2007 9:02am Jul 2, 2007 9:02am
Quoting Clusterwise
It's going to be bad as wave reading
Apparently not
  • #7,750
  • Jul 2, 2007 9:03am Jul 2, 2007 9:03am
Quoting Sniper
Watch the bounce
Still has not made it past that 38 fib support.
  • #7,751
  • Jul 2, 2007 9:05am Jul 2, 2007 9:05am
true! My guess is the worst is over the 38 fib seems like a nice support. Gonna add some longpositions.
  • #7,752
  • Jul 2, 2007 9:07am Jul 2, 2007 9:07am
u will be able to buy off the 50% fib of total smaller upmove by 19:00 gmt me thinks

cable gonna sell off next hr bar
"Millionaires don't use astrology, billionaires do"
  • #7,753
  • Jul 2, 2007 9:08am Jul 2, 2007 9:08am
Bids at the 122.30/35 level will keep US/JPY supported
Patience + Humility + Study = Success
  • #7,754
  • Jul 2, 2007 9:09am Jul 2, 2007 9:09am
Quoting OrionsWay
u will be able to buy off the 50% fib of total smaller upmove by 19:00 gmt me thinks

That my entry point. @ 50% Fib going long.
  • #7,755
  • Jul 2, 2007 9:09am Jul 2, 2007 9:09am
Dow Jones taking out 13,500, 10yr @ 5.03%, dollar index at 81.50.

Pressure on the dollar is hitting UJ on the chin, in spite of the lousy tankan. However, UJ lies in a monster trendline at mid-122s.

Unless some risk aversion hits the market, I'm not seeing doomsday for GJ. GU chopping woods at 0100 and Euro @ 3600.

Big picture seems "risk apetite" to me, which favours yen crosses long
  • #7,756
  • Jul 2, 2007 9:12am Jul 2, 2007 9:12am
This guy doesn't agree with me though

10:05 The better than expected headline is supported by the sub-indices which are also slightly improved to steady; the prices paid index somewhat offsets the better headline in that inflationary pressures are moving lower. Minimal reaction in the Treasuries, but stocks like the number. Net-net, the ISM provides the opportunity for profit-taking and a move into consolidation for the time being. Keeping one eye on the stocks and the other on USD/JPY to see if the gains can be sustained. A weak equity close will be another in a recent pattern of intra-day strength not being sustained on a closing basis, which is a sign of likely market tops being formed.

First signs of profit taking in the afternoon and I'm bailing out
  • #7,757
  • Jul 2, 2007 9:13am Jul 2, 2007 9:13am
Quoting OrionsWay
u will be able to buy off the 50% fib of total smaller upmove by 19:00 gmt me thinks

cable gonna sell off next hr bar
True, I will add some more then too!
  • #7,758
  • Jul 2, 2007 9:13am Jul 2, 2007 9:13am
Quoting Sniper
Apparently not
If it's not so good, it should mean bad

USD is going to be weak till the end of year

Many thanks
  • #7,759
  • Jul 2, 2007 9:14am Jul 2, 2007 9:14am
Quoting OrionsWay

cable gonna sell off next hr bar
Why?
  • #7,760
  • Jul 2, 2007 9:15am Jul 2, 2007 9:15am
Quoting cesarnc
Why?
Seeing a Mercedes parked outside your building is not a DIRECT indicator here...
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