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Daily GBP/JPY analysis

  • #681
  • Feb 27, 2007 9:46pm Feb 27, 2007 9:46pm
Uncle Merlin has it marked as a non event. One of those yellows. After midnight...

After midnight, were gonna let it all hang down.
After midnight, were gonna chug-a-lug and shout.
Were gonna stimulate some action;
Were gonna get some satisfaction.
Were gonna find out what it is all about.
After midnight, were gonna let it all hang down.

After midnight, were gonna shake your tambourine.
After midnight, its all gonna be peaches and cream.
Were gonna cause talk and suspicion;
Were gonna give an exhibition.
Were gonna find out what it is all about.
After midnight, were gonna let it all hang down.

http://www.youtube.com/watch?v=fkkM7K6smQA--

Dam that's pretty- That was Duke's woman


Quoting trader8686
All right, quiet now.I remember this GBP meeting is coming in next 3 hours and half according to the calendar. I just set my alarm and trying to watch it very closely. I have all my trades closed just in case.
I heard days ago, this number is going to be strong.(I am not sure myself)
This is what I heard: in this week most of the GBP numbers are strong.http://www.forexfactory.com/images/icons/icon5.gif
T
  • #682
  • Feb 27, 2007 10:26pm Feb 27, 2007 10:26pm
RSI 14 indicates a trend reversal towards North. Waiting for other indicators to confirm.
  • #683
  • Feb 27, 2007 11:16pm Feb 27, 2007 11:16pm
Have you noticed that the majority of pairs have become virtually flat? Looks as though there is another move coming. Usually when a large number of pairs develop very narrow ranges a very strong move often follows.

I am not sure of the direction but I will be staying awake for Frankfurt and London since I would guess that there is a high probability of major moves again.
  • #684
  • Feb 28, 2007 12:20am Feb 28, 2007 12:20am
I guess the market did not wait for Frankfurt. I have no idea what actually started that last move down by the yen crosses. The yen news was hours before.
  • #685
  • Feb 28, 2007 12:37am Feb 28, 2007 12:37am
Looks like the JPY pairs are trying to reverse.
Show me the PIPS!
  • #686
  • Feb 28, 2007 12:48am Feb 28, 2007 12:48am
Will the trend reverse to north...with a negative GBP news on thursday:

GBP CBI Distributive Trades Realized http://www.forexfactory.com/images/m...mpact_high.gif
22 30
  • #687
  • Feb 28, 2007 1:06am Feb 28, 2007 1:06am
Quoting simplecoders
Will the trend reverse to north...with a negative GBP news on thursday:

GBP CBI Distributive Trades Realized http://www.forexfactory.com/images/m...mpact_high.gif
22 30
If news is indeed negative then "no". This reverse that is trying to form could be just a short term deal.
Show me the PIPS!
  • #688
  • Feb 28, 2007 1:06am Feb 28, 2007 1:06am
We had had such a strong move down that a retracement was to be expected. I thought that we would make it to 38.2 but we only made it half way between 23.6 and 38.2. I had even thought that we might make it to 50 before continuing down. Then we started back down and bounced off the 23.6. I would imagine that we will continue south, although what we have had does seem to be less retracement that would have seemed appropriate.
  • #689
  • Feb 28, 2007 2:38am Feb 28, 2007 2:38am
This could go down to 225-228'ish level.

It has a perfect head and shoulders and also broken the key resistance level.
Attached Image
  • #690
  • Feb 28, 2007 3:40am Feb 28, 2007 3:40am
I just went long 231.29 theres technical or other reason just did it so dont think thats the right time it really can fall somewhere got a huge SL so no prob. just 0.2lot
but like all of you hoping it goes my way
happy pipping
  • #691
  • Feb 28, 2007 3:40am Feb 28, 2007 3:40am
Possibly you are right, What seemd to be a trend reversal few hours back, is in fact getting ready for another long journey south. Daily chart also says that the southward journey is not yet over.
  • #692
  • Feb 28, 2007 3:43am Feb 28, 2007 3:43am
I read a report earlier of a big stoploss on a break of 230.00. I wonder if there is enough momentum now to get there?
  • #693
  • Feb 28, 2007 3:58am Feb 28, 2007 3:58am
Lots of economic data is due to pour in today and tomrrow mainly the GBP news tomrow. The whole picture shouldbe clear only by then: North or south.

What I see more is that the daily chart has still lots of space for south ward move. I have just cancelled my buy trade.
  • #694
  • Feb 28, 2007 8:45am Feb 28, 2007 8:45am
So, what next? Who will won, bears or bulls?
  • #695
  • Feb 28, 2007 8:50am Feb 28, 2007 8:50am
South it is, but be careful around 230.00.
  • #696
  • Feb 28, 2007 8:51am Feb 28, 2007 8:51am
  •  Trader#0000
  • | Status: Unregistered Trader
Maybe consolidate for a day or two?
  • #697
  • Feb 28, 2007 9:48am Feb 28, 2007 9:48am
Did you all notice the rally (upside)? 232.68 now
My indicator saying it is up trand, now.
  • #698
  • Feb 28, 2007 10:15am Feb 28, 2007 10:15am
Yes, My indicators also say the same...
But tomorow GBP news If the forecast becomes actual, then it should send teh GBP plummetting down. ISnt it. If thats is the case then the uptrend should not be confirmed today......My own logic. Will it stand the truth!!!
  • #699
  • Feb 28, 2007 10:58am Feb 28, 2007 10:58am
Quoting trader8686
Did you all notice the rally (upside)? 232.68 now
My indicator saying it is up trand, now.
.

Now you can see that it has gone back to 232.. so I feel that this up and down will go on until tomorrow GBP news which should bring GBP down .

GBP CBI Distributive Trades Realized http://www.forexfactory.com/images/m...mpact_high.gif
22 30
http://www.forexfactory.com/images/m...l_analysis.gif
The uptrend might start from the JPY news events on Friday of which the most important is JPY Negative as per the forecast.

JPY Core Tokyo CPI m/m http://www.forexfactory.com/images/m...mpact_high.gif
0.0% 0.2%
  • #700
  • Feb 28, 2007 11:02am Feb 28, 2007 11:02am
thats what I think, too!
SL hit at 231.71 booked some pips thats it for now (it was like you said
just too risky so SL was tightend) also waiting for some more falling and perhaps get in tomorrow evening see you.
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