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Daily GBP/JPY analysis

  • #601
  • Feb 27, 2007 2:23pm Feb 27, 2007 2:23pm
Quoting Pipsqueak
Free money!!!!!!!!!!!!
I closed my trade for 85+ i should be happy, but i am a little angry... came here kitty kitty i wanna kick you a little bit
  • #602
  • Feb 27, 2007 2:23pm Feb 27, 2007 2:23pm
hi all
my first post here
I see this point for retrace 230.63 ........ but i'm not sure
any comment will help
If you count on hope in any trade ……. Get out of it
  • #603
  • Feb 27, 2007 2:24pm Feb 27, 2007 2:24pm
Target - 232.19
They call me "Hondo"
  • #604
  • Feb 27, 2007 2:25pm Feb 27, 2007 2:25pm
Your hearth? what?

Bounce, maybe...but I think this is a general Yen strengthening...you.

I'm a little peeved at myself for getting out of the USD/JPY short so soon...but little did I know (or remember) that the Chinese stock market would plunge 9% in one day followed by the 400-500 point drop in the DOW.

Whoa...I should really trust my instincts a little bit better.

Quoting kunz78
My Hearth is useless now.... +600 pips in two days

and now the bounce should start
  • #605
  • Feb 27, 2007 2:30pm Feb 27, 2007 2:30pm
OH my god... I was down 100 pips on the GBPUSD today.. I was so annoyed.. however I shorted the GBPJPY at 237 last night.. and my god......... this has just done something I have never seen..

All my losses recoup..

And no sign of stopping???

Surely nobody has any charts to show what this is doing now??
  • #606
  • Feb 27, 2007 2:40pm Feb 27, 2007 2:40pm
Quoting patricio0793
OH my god... I was down 100 pips on the GBPUSD today.. I was so annoyed.. however I shorted the GBPJPY at 237 last night.. and my god......... this has just done something I have never seen..

All my losses recoup..

And no sign of stopping???

Surely nobody has any charts to show what this is doing now??
On the daily chart, it went from 228 to 241 in a couple of weeks. I see it coming down to 228 (1/8 low)
  • #607
  • Feb 27, 2007 2:48pm Feb 27, 2007 2:48pm
Quoting Pipsqueak
On the daily chart, it went from 228 to 241 in a couple of weeks. I see it coming down to 228 (1/8 low)

It seems to be holding well just above 231 now though.. I hope that isnt the end of it.. its been great fun churning cash from this all day

Or is it consolidating, waiting to have another 100 pip drop in 5 minutes??
  • #608
  • Feb 27, 2007 2:48pm Feb 27, 2007 2:48pm
Quoting mrmikal
BOJ hasn't intervined in years...at least not officially. If it's another bank, it's probably China.
well it sure looks like it on the charts - wouldn't be surprised to hear news of it after the fact
Man who scratches ass should not bite fingernails
  • #609
  • Feb 27, 2007 2:54pm Feb 27, 2007 2:54pm
56% gain locked in so far
  • #610
  • Feb 27, 2007 3:15pm Feb 27, 2007 3:15pm
Quote
Leugimp......this must be BOJ intervention - any news on it
Quote
well it sure looks like it on the charts
Why do you think "it must be BOJ intervention"?


My charts show a rise in the JPY.... What do yours show differently to suggest BOJ activity?

The "market" has far more power than the BOJ - Why would the BOJ need to buy JPY if the rest of "the market" is doing it for them
  • #611
  • Feb 27, 2007 3:23pm Feb 27, 2007 3:23pm
I agree, I don't think the BoJ has officially intervened with a buying or selling of its currency since 2004 (at least I read that in an article following the G7...perhaps I am mistaken in my facts, which I'm sure someone on the factory would be willing to point us to an official BoJ statement or article disputing these facts).

Like I said, if it is a bank buying or selling the Yen it'll be China in a move to diversify its currency base.

BF is right, in my opinion. The market is merely acting on the Yen as Carry trades unwind (especially since quite a few of them started to lose profit with in the last few hours). I think this is just a long overdue correction in the Yen trend. The Yen was strong following yesterday's China market fiasco, my guess is this may have something to do with it.

Quoting BigFace
Why do you think "it must be BOJ intervention"?


My charts show a rise in the JPY.... What do yours show differently to suggest BOJ activity?

The "market" has far more power than the BOJ - Why would the BOJ need to buy JPY if the rest of "the market" is doing it for them
  • #612
  • Feb 27, 2007 3:47pm Feb 27, 2007 3:47pm
Easy Wave... Easy Money...
  • #613
  • Feb 27, 2007 3:56pm Feb 27, 2007 3:56pm
So 228 is the target? I thought it would bounce at 233. I am long at 233..
  • #614
  • Feb 27, 2007 4:10pm Feb 27, 2007 4:10pm
Well, i am not going long till i see a substantial increase. I dont know when that is, but i am sure price will show us when this starts to happen
  • #615
  • Feb 27, 2007 4:13pm Feb 27, 2007 4:13pm
Why?

Quoting Nacho_1975
So 228 is the target? I thought it would bounce at 233. I am long at 233..
T
  • #616
  • Feb 27, 2007 4:14pm Feb 27, 2007 4:14pm
GBPJPY could drop even alot more.
Quote
DEALERS NOTING THAT SEASONAL FACTORS FAVOR A STRENGTHENING YEN AS JAPANESE FISCAL YEAR END APPROACHES
- Japanese Exporters have to repatriated all profits before the end of the fiscal year on March 31st.
- Not a bookkeeping entry, but actual return of overseas profits
- Exporters flows of currency back into Japan could offset the Japanese retail/institutional outflow that is in search of yield (carry trade)<EUR/JPY GBP/JPY>

Perhaps going short JPY in April or even in May like it did last year.
  • #617
  • Feb 27, 2007 4:28pm Feb 27, 2007 4:28pm
I don't think this is over yet. All the yen crosses are still in a downtrend. Even cable is starting to move down. Watch eur/jpy!
  • #618
  • Feb 27, 2007 4:29pm Feb 27, 2007 4:29pm
Quoting BurgerKing
GBPJPY could drop even alot more.


Perhaps going short JPY in April or even in May like it did last year.
Now, are you saying we still not bounce back, yet?
  • #619
  • Feb 27, 2007 4:31pm Feb 27, 2007 4:31pm
I'm frustrated as I got stopped out at 237 for 0 profit due to trailing stop missed out but forex is like a river so there will be other opportunities
  • #620
  • Feb 27, 2007 4:44pm Feb 27, 2007 4:44pm
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