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Daily GBP/JPY analysis

  • #61
  • Feb 7, 2007 10:47pm Feb 7, 2007 10:47pm
ooooooooops key stroke error, I meant 237.50.......

what do you think the interest rate decision will do this pair?
  • #62
  • Feb 7, 2007 11:05pm Feb 7, 2007 11:05pm
Quoting chokenyou
ooooooooops key stroke error, I meant 237.50.......

What do you think the interest rate decision will do this pair?
It depends on if the decision is to let it stand, lower it, or raise it.
I am not an anylizer, but I will stick my neck out and say they will let it stand, in which it may drop a bit before resuming direction.
We'll see.
P.S. DO NOT PLACE TRADES ON WHAT I JUST WROTE...I WON'T!
(I trade news on the bounces.)
  • #63
  • Feb 7, 2007 11:12pm Feb 7, 2007 11:12pm
So let me see if i understand what might happen when the GBP interest statement is released. Most people speculate that the rates will remain unchanged. If this happens will the GBPJPY move upwards, or downwards. In essence in the event that a country leaves the interest rates unchaged, who benefits from that decision?


Thanks for the response in advance.
  • #64
  • Feb 7, 2007 11:15pm Feb 7, 2007 11:15pm
Usually half of the majors are going up and the other half down. That is the normal situation. Right now I have long trades on cable, fiber, UJ and swissie AT THE SAME TIME. Something weird is going on.

Since this pair does not exist in reality and is nothing more than the multiplication of the price of cable and the price of UJ, the same thing holds true of fiber being the result of the multiplication of the price of fiber and UJ. I have been told by brokers that when you place a trade on poundyen you are actually placing 2 trades and neither of them on poundyen. Your trades are on cable and UJ. As a result if both cable and UJ are going up it is a given that poundyen will go up and at double speed.
  • #65
  • Feb 7, 2007 11:29pm Feb 7, 2007 11:29pm
Hey monchild,
you said that "when you place a trade on poundyen you are actually placing 2 trades and neither of them on poundyen. Your trades are on cable and UJ" . What is UJ?

thanks
  • #66
  • Feb 7, 2007 11:52pm Feb 7, 2007 11:52pm
Buying GBP/JPY means buying GBP/USD first and then selling USD/JPY, i.e. Reuters Vs. EBS.
  • #67
  • Feb 8, 2007 12:41am Feb 8, 2007 12:41am
May be we will se continuation?
Attached Image
kiss the trend
  • #68
  • Feb 8, 2007 12:43am Feb 8, 2007 12:43am
Quote
Since this pair does not exist in reality and is nothing more than the multiplication of the price of cable and the price of UJ,

Dont really know what you mean... Does any pair exist in reality then? All prices can be multiplications/divisions of other ccy pairs

Quote
the same thing holds true of fiber being the result of the multiplication of the price of fiber and UJ.

?? ..Please show me this calculation


Quote
I have been told by brokers that when you place a trade on poundyen you are actually placing 2 trades and neither of them on poundyen. Your trades are on cable and UJ.

Change brokers....They're taking rubbish... OK the GBP/JPY price is related/derived/calculated from GBP/USD+USD/JPY... but you're not placing two trades.


Quote
As a result if both cable and UJ are going up it is a given that poundyen will go up and at double speed.
Correct...It will go up



Quote
nikim
What is UJ?
UJ = USD/JPY


Quote
Toraku
Buying GBP/JPY means buying GBP/USD first and then selling USD/JPY, i.e. Reuters Vs. EBS.

If you did that you would be LONG GBP / SHORT USD
and LONG JPY / SHORT USD

you wouldn't have a GBP/JPY position
  • #69
  • Feb 8, 2007 1:16am Feb 8, 2007 1:16am
I love this pair! it has made me over 150 pips today!
  • #70
  • Feb 8, 2007 1:27am Feb 8, 2007 1:27am
fx-trader777, when you say continuation are you thinking a continuation of the trend or this breakout?
  • #71
  • Feb 8, 2007 1:42am Feb 8, 2007 1:42am
Quoting mcmep11
I love this pair! it has made me over 150 pips today!
yeah its pretty awesome movement
  • #72
  • Feb 8, 2007 1:43am Feb 8, 2007 1:43am
Quoting pipple
duke,
i have a nice buy signal on this pair with the 10 and 20 MA's crossing up over the 50.
cant post chart

what do you think?
Pipple

anyone get any of this move with me?
  • #73
  • Feb 8, 2007 1:44am Feb 8, 2007 1:44am
Quoting strada
fx-trader777, when you say continuation are you thinking a continuation of the trend or this breakout?
Previous trend
kiss the trend
  • #74
  • Feb 8, 2007 1:59am Feb 8, 2007 1:59am
Quoting pipple
anyone get any of this move with me?
I'm currently in 1 lot @ 236.79 and a second lot @ 237.77.
  • #75
  • Feb 8, 2007 2:01am Feb 8, 2007 2:01am
Hi there nice to see this thread!!
I was long with you in g/j - e/j - aussi/j, but now im out..dont know what
to do because of the speaches trichet/ interest rate think ill wait till it falls again end then enter long-again- (if it would be such easy)
  • #76
  • Feb 8, 2007 2:49am Feb 8, 2007 2:49am
I have a "weak" (short term) sell signal on GBPJPY 23867, EURJPY 15779, AUDJPY 9462 .. "weak" implies signal could be wrong
  • #77
  • Feb 8, 2007 3:13am Feb 8, 2007 3:13am
what are u afraid of....worng or rite it's all good for learn. just dont get wrong so often pls.cheers up

Quoting forex3e
I have a "weak" (short term) sell signal on GBPJPY 23867, EURJPY 15779, AUDJPY 9462 .. "weak" implies signal could be wrong
  • #78
  • Feb 8, 2007 3:49am Feb 8, 2007 3:49am
Looks like its waiting for the BOE rate decision formality and willing to go up

Lots of carry traders will today open new positions.

GBPJPY time to go up baby


Quoting dswk
Thanks SpiderForex for your Xperience.

What do u see as next move for GBPJPY ?

Thanks.
  • #79
  • Feb 8, 2007 3:52am Feb 8, 2007 3:52am
Thanks Duke for starting this thread... and to everyone sharing their experience like Flareup and SpiderForex. I have a couple of questions and would appreciate learning from your experience.

The main reason why I have been reluctant to trade Yen crosses is because Japanese government officials are frequently passing comments at "unexpected" moments nearly every other day unlike Trichet and Bernanke who have very well-advertised talk events most of the time... as per my observations looking at the News feed. Does that not get you stopped out by a sudden 100 pip spike ... or make your management of trades difficult, to say the least? How do you avoid such whipsaws?

Those of you who are fortunate like Duke to have made good money with this pair: would be glad to know whether you are scalping with 15 min charts or swing trading with hourly and 4 hour charts? And accordingly, what is your stop size based on your experience.

Thanks in advance.
  • #80
  • Feb 8, 2007 5:19am Feb 8, 2007 5:19am
Can anybody say till what limit will GBP/JPY will reach before taking a downward turn in 4H chart?
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