Nacho, just looking at my chart and last Thursday this pair went down from 237 to < 233 - so at what point and why did you go long @ 235.10 ???
otherwise, many would argue that the carry long trade will soon resume, but one can never be sure, so can you stomach much more than 200 pips drawdown? if not, you may need to cut your loss.
I'm long from 233.12 and my SL barely escaped that dropped from last night. I went to -102 or something...but now back to +23 and still open...Nasty beast this pair...
Nacho, just looking at my chart and last Thursday this pair went down from 237 to < 233 - so at what point and why did you go long @ 235.10 ???
otherwise, many would argue that the carry long trade will soon resume, but one can never be sure, so can you stomach much more than 200 pips drawdown? if not, you may need to cut your loss.
Ignored
I don't know what was I thinking at that moment. I was -270 pips this morning after BOE Annoucement. Looks like it's now been recoverd a bit since now I am -170... My concer is with the BOJ rate announcement next Wendesday. I this hike the rate.. then I will be completly lost..right?
The gbpjpy closed out with a DBLHC (double bar low higher close) aroun the monthly fib of 61.8 Have to see if it breaks past yesterdays high (and todays high) to play out.
Reached 234. Daily chart shows a turn towards upward trend. H4 chart is already in upaward trend. GBP Public Sector Net Borrowing is GBP positive.
If nothing untoward happens like yesterdays BOE, then should touch 236.
The daily chart is also showing an upward trend > So is the GBP/JPY is reday to go for a long long.....239 or so? Surely 235.50 approx but is beyond that posssible? Any ideas!!!
The daily chart is also showing an upward trend > So is the GBP/JPY is reday to go for a long long.....239 or so? Surely 235.50 approx but is beyond that posssible? Any ideas!!!
Ignored
Agreed G/J will up and we will see 239
i am long form 232.20 and target 237
made nice profit on long yen crosses and exited right at price pivot (235)
This is good resistance area and I will be looking to fade any move higher (short)
happy trading.
The GNP is encountering resistance at 50.0 fib. But it should overcome this resistance to reach the next fibo 38.2. The daily chart is on an upward trend. So the GBp should go to the top above 237. Just my reading. Wait and watch
The GNP is encountering resistance at 50.0 fib. But it should overcome this resistance to reach the next fibo 38.2. The daily chart is on an upward trend. So the GBp should go to the top above 237. Just my reading. Wait and watch
check that thick horizontal line on my chart above.
it's a broken support now turned resistance. Price usually stops around those areas before continuing higher and/or reversing...
The increase ifrom 233 to 235 now has taken place when the daily chart has just completed its downward journey and turned toward northward. Imagine the GBP destination when daily chart starts proceeding northward. That is what is happening. At least it should go to 235.70/75 . In the daily charts last northward trend , it has taken the GBP from 232 to 241.
Here's a chart showing the key level right now (235.35). If a sustained breakout occurs above this price, it could mean a return to uptrend. The next level up would be the 237.15 level (the high of Feb14-15). Overall, it might be a very whipshawy action around the BOJ announcement. I think Merlin mentioned somewhere else that the strategy is to sell Yen into strenght. Just have to wait and see what happens.
