Auslanco - GBP/JPY and GBP/USD (newstrade)

My opinion is retracement might only come on wednesday...

However anything is possible.

I remember someone saying the 15th is a time point, so Thursday could be it.

I expect cable to hit 2.0360 for a retrace.

Whats the support at 225.14. bounced off that price thrice today...

I dont see anything there...can anyone enlighten me,PLease.?

We had the perfect setup for longs on u/cad recently. Anyone took that trade?

Up +400pips at least.

Yea, that was Gene22 and he said 15th or 16th most likely

I HAVE A WEEKLY S2 AT 225.47

Here is support/resistance table for GBP/JPY. It updates every 30 min and 1hr for longer term. . .

http://www.actionforex.com/forex_ana..._200603215764/

GBP/JPY has broken 4hr S1 @ 225.56 and looks to be heading to S2 @ 224.28 next. . . If we close below the pivot then we will surely see 224.28 and possibly 223.47. . .

Check it out for youself. . .

YY, i noticed that and was tempted to take that trade but i dont trade against the trend and that prevented me from placing that trade.

Testing 225.14 for the 4th time ..hope it takes out 225.14 this time..too frustrating.

219.37

Well, UJ broke 119.50.. that finally helped GJ go down that wrteched 225.11 .

Where are you getting 225.14????? Next stop for geppy is 224.28 if we go through that then 223.48. If you look at the daily pivot point GBP/JPY looks to be headed toward 221.93. . . A close below the daily pivot then look out below.

GBP/USD is testing trendline support @ 2.0540/50, a close below it will cause a drop to 2.0470/0500 and usd/JPY is headed for 109.00. . . Both these will cause geppy to drop significantly. . . I see 223/222 before a significant retrace. . .

How many more of these will we see??
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The thing Im careful of on U/J is the monthly trendline going back to mid 1994.

OK, I promised to post my analyses on sunday, but had some urgent bussiness, that kept me awy from the computer. As I stated earlier I was short and concentrating on shorts only, the 9th was suppose to be a reversal day, but it actually accelerated the fall,ti happens, great. As stated previously it was too soon to look at building anything worthwhile for a considerable retracement. My next time point is the 16th and the 26th give or take 1 day or so. I'll have more time tomorrow and will do some fine tuning. Here is what I see as of now. Since we did accelerate into the fall I see 215-212 as the objectives for this fall, before we can expect a decent bounce. My charts tell me that this is a most likely scenario. I also think that we have at least 2 to 3 more days of a decline ahead of us for now. The strange thing is, and that could sound a bit, or well, really out there but I saw a number in my sleep, on Saturday, that being 187. This crazy thing happened to me only once before but it proved to be accurate at that time. Also strangely enough I had found a rather sound technical reason for that level that I didn't dare to look at previously, so I will let 10% of the shorts ride to see if it can be achieved.(long term target) I had posted my charts previously, you are welcome to refer to them, those levels are based on those analyses and are still valid. I have to update some lines as they simply haven't been drawn in the unchartered territory so will have a more precise targets sometime tomorrow. My advise is to not try to start picking any bottom at least untill friday, we did fall quite a bit, so the retrace should happen, but I would only take it from a major level and we are nowhere near there yet. Also if you look at monthly macd, and go back in time when it crossed last time, you would see that the month following the cross had a dramatic fall, so I will wait for my targets and try to get some more shorts if any retracements happen.
Good Luck

Possible but I see the BOJ intervening when it reaches between 95-100.

I think this drop is good for at least another 600 pips. We've had two massive unwind this year: one in February for about 2000 pips and one in August for 3000+ pips. This fall started at 238. It might dip to 218 to make a lower low and then bounce. It might actually go to 210 if the conditions are right. Bernanke will speak on Wednesday. Just make sure you unload your shorts before he speaks.

Dropping more as we speak........it is going so very down.

And then it decides it wants to go up!

I have a monthly support line sitting on 101.23 but it is the base of a descending right-angle triangle and could be ripe for a break.