Daily GBP/JPY analysis

looks like carry king again?

fukui speech coming up. should give a hint on where interest rates will go next month

Can you post short result here, soon as you hear? Thanks.

Oh, still one more hour to go, thanks.

The G/Y os dropping Fellas!!!!1


Buy da Dips!

What ya think?

This market needs a GPS b/c it seem the market don't know which way to go until NY time open...



I guess I will hedge until NY time...

rgitt05

I love Fukui.

Best market mover in the world.

I think I might send him a Christmas card.

He'll also give us a lovely little bottom to fish later.

jajajaj that right:

looks like market in process of pricing in incoming rate hike... more reasons to go long on the carries it seems. Time to throw the hooks...dont forget the 100k baits

First of all, the London market is lacking major news release to move the market...My guess is the market makers will take this to the lowest level on the fibs before the 8:30 am Trade Balance..

Buy on the dips!!!

rgitt05

Bounce around the 246.20 range..If not then get ready for a freefall to the 242.00 range...

Carries aren't going anywhere just yet, don't worry. 242.00 is a long, long, long way off.

I'm already out of my short scalp for a tidy 50pip profit (248.29-247.79) on the back of Fukui spouting his usual nonsense. Price has almost already retraced to where I entered my trade.

Hi all
What will be the effect of fukui's speech on gbpjpy? Any suggestions.

The effect is done and gone, in my opinion.

Continue trading as normal.

I believe Fukui clearly signaled near term rate hikes, and the market is already prepared for that. At least until next meeting the pair might continue going up.

Even if we get a rate hike by then, the carry trade will continue strong... seeing that BoE and ECB have recently increased their interest rates as well. Death of carry trades is a distant idea, and any of those so-called "unwindings" of panic reported by the media are merely corrections and opportunities to buy on dips

Has anybody any opinions concerning gbp\jpy will it go deep down or it will go up. My is that it have to go down coz resistance was very strong, does anybody share my opinion? or u r waiting for smth?

I'm long @ 248.28, target is 248.78.

You can cleary see the yen is retracing from yesterday's move. The .23 seems to hold. If it goes to the .38/.50 fib, I will add other lots.
No stoploss, profit taking at today's high. I hope for an easy 50pips.

PS: look for chart in next post....

GBP/JPY fibo's

Ok, thx.but to my mind it's better to wait for next week, it'll be easier to understand trend.

I think this pair is looking quite toppish, actually and seems really only propped up on the (questionable at this point) cable strength. I think the likelihood of a rate hike next month will keep this pair under 250, however with that said, I still think buying dips is the way to go. Just be prepared to take your profits if you want to maximise earnings.