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Daily GBP/JPY analysis

  • #8,301
  • Jul 12, 2007 7:07am Jul 12, 2007 7:07am
It is frustrating to stare at this pair which has beed onscillating btween 248.20 and 248.40for last 5 and half hours. Been looking for break to test 249 since then..
Anyway ,long @ 248.09 with Target point of 248.80.
  • #8,302
  • Jul 12, 2007 7:35am Jul 12, 2007 7:35am
Well,

The trade balance did finally moved the pair.
Nice move up..Hope 249 is breached.

DJIA futures and S&P still positive. Hope that will help it push beyond 249.50 today.
  • #8,303
  • Jul 12, 2007 11:30am Jul 12, 2007 11:30am
Quoting Sidus
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....
Took profit at 40 pips and sold half of my lot. I let the other one run and put a stop loss at break even....
  • #8,304
  • Jul 12, 2007 11:40am Jul 12, 2007 11:40am
cmmon muscle it up GJ!...i locked in profits as well in case of a failur
"it doesn't come any sharper than this!"
  • #8,305
  • Jul 12, 2007 11:48am Jul 12, 2007 11:48am
Quoting DR.ich
cmmon muscle it up GJ!...i locked in profits as well in case of a failur
Wise! I think it wil go to 249, but I have no idea if G/J has enough power to break that strong resistance....
So this is a trade to babysit!
  • #8,306
  • Jul 12, 2007 4:30pm Jul 12, 2007 4:30pm
I'm for selling short-term. Having seen the limited range today there will be more scope downwards than up. Targeting 247.5 during the asian session. Short at 248.50.
  • #8,307
  • Jul 12, 2007 4:50pm Jul 12, 2007 4:50pm
Quoting Timingy
I'm for selling short-term. Having seen the limited range today there will be more scope downwards than up. Targeting 247.5 during the asian session. Short at 248.50.

ai..... I hope you're not goin to blow your account!
  • #8,308
  • Jul 12, 2007 5:05pm Jul 12, 2007 5:05pm
Quoting Sidus
ai..... I hope you're not goin to blow your account!
Precisely - SL 249.1, anticipating resistance at 248.2
  • #8,309
  • Jul 12, 2007 5:26pm Jul 12, 2007 5:26pm
Quoting Timingy
Precisely - SL 249.1, anticipating resistance at 248.2
Shorts in play and hoping they'll last. Overbought dailies show mixed signals and the hourlies are neutral. Will tighten the stop on a 247.80 break.
  • #8,310
  • Jul 12, 2007 6:11pm Jul 12, 2007 6:11pm
Quoting cesarnc
Dow Jones triple top at 13,650 area since June. Either 4th holds the charm or Down Dow goes...

4th held the charm, +2% session today, 14,000 points set to be blown out soon.

Friday the 13th, leaving the 13,000s?
  • #8,311
  • Jul 12, 2007 7:08pm Jul 12, 2007 7:08pm
Quoting Timingy
Shorts in play and hoping they'll last. Overbought dailies show mixed signals and the hourlies are neutral. Will tighten the stop on a 247.80 break.
Looks to me like the GJ and the EJ are fixin to take off up to the next level!!! I'm in long with two lots on eact and pending orders along the way!!!
  • #8,312
  • Jul 13, 2007 12:22am Jul 13, 2007 12:22am
and possible down again, i think
  • #8,313
  • Jul 13, 2007 1:50am Jul 13, 2007 1:50am
Quoting Timingy
Shorts in play and hoping they'll last. Overbought dailies show mixed signals and the hourlies are neutral. Will tighten the stop on a 247.80 break.
Support level at the 20s seems to be coming under pressure as we go into the London open, and we have abreach of the lower BB.
  • #8,314
  • Jul 13, 2007 8:18am Jul 13, 2007 8:18am

perfect time for short...

"Analysis Is Hard But Trade Is Easy"
  • #8,315
  • Jul 13, 2007 8:25am Jul 13, 2007 8:25am
Nice call. Out with a +40
  • #8,316
  • Edited 8:39am Jul 13, 2007 8:37am | Edited 8:39am
damn!
  • #8,317
  • Jul 13, 2007 8:40am Jul 13, 2007 8:40am
Quoting Timingy
Support level at the 20s seems to be coming under pressure as we go into the London open, and we have abreach of the lower BB.
More scope for the downside - the Persian hand has been dealt. Need a breach of that support in the teens twenties range for access to lower levels.
  • #8,318
  • Jul 13, 2007 8:51am Jul 13, 2007 8:51am
Has anyone heard new about Japan striking a deal to purchase oil with using only YEN currency?


Is this why theres a quick dip on all YEN pairs?
  • #8,319
  • Jul 13, 2007 8:52am Jul 13, 2007 8:52am
09:32The Iranian decision to request Japanese refiners pay in JPY for oil imports is seeing the JPY strengthen as Japanese oil importers would no longer need to sell JPY to buy EUR to pay for Iranian oil. The change was made in a letter dated July 10, and represents the latest shift by Iranian authorities to shift currency payments into any other currency other than USD. The EUR had been the primary beneficiary of their policy, but now they are extending it to JPY, so it's a combination negative for EUR/JPY and USD/JPY. However, in the big picture, Japan only imports about $1 bio annually from Iran, so the notional amount are minimal. Technically speaking, some damage has been done with the loss of 122.00, with the Iranian oil news the catalyst, but equities expected to weigh on the pair further.
  • #8,320
  • Jul 13, 2007 10:47am Jul 13, 2007 10:47am

damn still not moving !!!

"Analysis Is Hard But Trade Is Easy"
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