Attachments: Daily GBP/JPY analysis

Daily GBP/JPY analysis

#12,341
Aug 2, 2007 12:11am Aug 2, 2007 12:11am

craazy
| Joined Jul 2007 | Status: Will Work For Pips | 334 Posts

Quoting kharvell

Disliked

I don't know if I'd ENTER short now, but if you have shorts, I would hold on to them.

Ignored

Hmmm... got the feeling people were still saying a downward trend

Craazy

#12,342
Aug 2, 2007 1:12am Aug 2, 2007 1:12am

frank99
| Joined Mar 2007 | Status: Trader | 311 Posts

We appear to be in a slight uptrend right now, but it's having a hard time breaking some resistance. I'm waiting to see what happens.

Frank

#12,343
Aug 2, 2007 1:16am Aug 2, 2007 1:16am

Que
Joined May 2007 | Status: ??? | 1,265 Posts

In my opinion, and it is probably the blind speaking to people with much better sight, But...

The GJ closly follows the DJIA and here is the DJIA chart.

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Que

#12,344
Aug 2, 2007 1:26am Aug 2, 2007 1:26am

lagank
| Joined Jan 2007 | Status: Trader | 14 Posts

i don't think we will see direction til after interest rate news-but who knows???
Lori

#12,345
Aug 2, 2007 1:27am Aug 2, 2007 1:27am

bobblong
| Joined Jun 2007 | Status: --... | 621 Posts

My chart says we've hit a support from the weekly.

Great buy levels.. from a technical aspect anyway. Interest rate statement will be the make or break.

#12,346
Aug 2, 2007 2:20am Aug 2, 2007 2:20am

Islander
Joined Jan 2007 | Status: Trader | 11,838 Posts

Major resistance at 242.63 and minor resistance at 241.50 and 242.15.
Falling trend line currently at 241.76.

After the initial wild swings earlier yesterday, GBPJPY only managed to put on 50 pips in 10 hours.....not IMOP a good sign.

There was a 140 pip early bounce this morning, which held at the 241.50 minor resistance. With the short TFs showing a lower high at 241.41 at 3:00EDT....I´ve taken a small short at 241.35 with a stop at 241.60 and will add if 241 breaks.

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Trading Levels with WRBs

#12,347
Aug 2, 2007 2:46am Aug 2, 2007 2:46am

Islander
Joined Jan 2007 | Status: Trader | 11,838 Posts

Closed at 240.96, ST chart turned up, lack of follow thru under the number and a time line.

I guess that it will range until the news, so I´ll just watch

Trading Levels with WRBs

#12,348
Aug 2, 2007 3:24am Aug 2, 2007 3:24am

keramikus
| Joined Apr 2007 | Status: Student of Occult Pipsology | 197 Posts

My 5 cents:

GJ was due to test below 239 yesterday afternooon, but then NYSE closed positive and bumped the stuff to 241.70, but without serious backing. IMO it only proved a small delay and with absence of really heavy news fundamentals still rule - GJ down. GBP IR has been absorbed by market, EUR IR ditto, what remains is tomorrow`s NFP, but IMO wont be good - so again, GJ down.

What you all think? Shoot.

#12,349
Aug 2, 2007 3:25am Aug 2, 2007 3:25am

persian.forex
| Commercial User | Joined Jun 2007 | 363 Posts

anybody

do you work via FARACTALS indicator??

good result?

#12,350
Aug 2, 2007 3:32am Aug 2, 2007 3:32am

persian.forex
| Commercial User | Joined Jun 2007 | 363 Posts

i leave g j for a few week, its high risk

and trade e j again

babye G J

#12,351
Aug 2, 2007 4:19am Aug 2, 2007 4:19am

hycebee
| Joined Jul 2007 | Status: Trader | 81 Posts

Quoting persian.forex

Disliked

i leave g j for a few week, its high risk
and trade e j again

babye G J

Ignored

Yes you're right. The spread is too much and it is highly volatile. May GBP/USD will do.

#12,352
Aug 2, 2007 4:28am Aug 2, 2007 4:28am

goonergonebad
| Joined Nov 2006 | Status: Trader | 348 Posts

Hi,

Normally much more movement in this pair by this time of day.

I don't understand why the GB interest rate announcement should hold this pair in check so much. I believe it is widely expected that rates (eurozone as well) will remain the same and that this is usually already priced in.

If static is the pair going down?

My technicals on my 1 hour chart are suggesting a long. Does anyone else read their charts as a long?

#12,353
Aug 2, 2007 4:39am Aug 2, 2007 4:39am

Abouelzelouf
| Joined Aug 2006 | Status: Trader | 1,152 Posts

Quoting goonergonebad

Disliked

Hi,

Normally much more movement in this pair by this time of day.

I don't understand why the GB interest rate announcement should hold this pair in check so much. I believe it is widely expected that rates (eurozone as well) will remain the same and that this is usually already priced in.

If static is the pair going down?

My technicals on my 1 hour chart are suggesting a long. Does anyone else read their charts as a long?

Ignored

it is expected that both central Bank keep rates unchanged, but the important is what will they comment about future rates, that is why everybody wait for comments....

#12,354
Aug 2, 2007 4:41am Aug 2, 2007 4:41am

Islander
Joined Jan 2007 | Status: Trader | 11,838 Posts

Quoting goonergonebad

Disliked

Hi,

Normally much more movement in this pair by this time of day.

I don't understand why the GB interest rate announcement should hold this pair in check so much. I believe it is widely expected that rates (eurozone as well) will remain the same and that this is usually already priced in.

If static is the pair going down?

My technicals on my 1 hour chart are suggesting a long. Does anyone else read their charts as a long?

Ignored

Yesterday´s bounce from 4:45 edt was over 400 pips in just under 4 hours - that´s about twice the normal daily range, so we could expect this morning to quieten down whilst waiting for the BOE announcement.

For me, the buy signal on my hourly chart off yesterdays low has already paid out and I´ve scalped a short off the lower TFs.

The red down-trend line I mentioned earlier is now at 241.50 and still valid.

Trading Levels with WRBs

#12,355
Aug 2, 2007 4:44am Aug 2, 2007 4:44am

goonergonebad
| Joined Nov 2006 | Status: Trader | 348 Posts

Quoting Abouelzelouf

Disliked

it is expected that both central Bank keep rates unchanged, but the important is what will they comment about future rates, that is why everybody wait for comments....

Ignored

Thanks..

#12,356
Aug 2, 2007 4:46am Aug 2, 2007 4:46am

goonergonebad
| Joined Nov 2006 | Status: Trader | 348 Posts

Quoting Islander

Disliked

Yesterday´s bounce from 4:45 edt was over 400 pips in just under 4 hours - that´s about twice the normal daily range, so we could expect this morning to quieten down whilst waiting for the BOE announcement.

For me, the buy signal on my hourly chart off yesterdays low has already paid out and I´ve scalped a short off the lower TFs.

The red down-trend line I mentioned earlier is now at 241.50 and still valid.

Ignored

Thanks as well. My faster MA has now dipped down towards the 24 LWMA and is now shaping up as a short.

#12,357
Aug 2, 2007 5:16am Aug 2, 2007 5:16am

Islander
Joined Jan 2007 | Status: Trader | 11,838 Posts

IMO there´s too little volume for any meaningful analysis, but here´s the action at the 5 min level.....

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Trading Levels with WRBs

#12,358
Edited 6:11am Aug 2, 2007 5:51am | Edited 6:11am

goonergonebad
| Joined Nov 2006 | Status: Trader | 348 Posts

Quoting Islander

Disliked

IMO there´s too little volume for any meaningful analysis, but here´s the action at the 5 min level.....

Ignored

I agree, my two MAs have more or less been running in parallel for the last two hours now. We will know one way or the other after the news for GB and EURO.

Just a thought. GB rate remained the same, so if no change in EURO rate then presumably the GBP remains the more attractive currency because of it's higher rate. Logically, the pair should go long if this transpires...

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