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Daily GBP/JPY analysis

  • #921
  • Mar 5, 2007 3:56am Mar 5, 2007 3:56am
Finally, Market giveth what it taketh with compound interest

I love FOREX after a wait for two years.
  • #922
  • Mar 5, 2007 7:51am Mar 5, 2007 7:51am
That 221.50 area seems really tough to break. Im not sure if will be able to push through this area. But non-the-less i am still waiting. Maybe we might see a retracement to 224. Right now its just a waiting game for the next move.
  • #923
  • Mar 5, 2007 8:29am Mar 5, 2007 8:29am
Quoting nikim
That 221.50 area seems really tough to break. Im not sure if will be able to push through this area. But non-the-less i am still waiting. Maybe we might see a retracement to 224. Right now its just a waiting game for the next move.
This pair is by far THE MOST EXCITING PAIR in forex. One blink and you are up 50 pips or down 50. Amazing! Takes big dollars or huge balls to trade this one.

BigDog
  • #924
  • Edited 10:39am Mar 5, 2007 10:29am | Edited 10:39am
There is another possibility, we may not see it comes down to break the next support level 220.36, again. Just guess. http://www.forexfactory.com/images/icons/icon12.gif
  • #925
  • Mar 5, 2007 10:49am Mar 5, 2007 10:49am
Quoting trader8686
There is another possibility, we may not see it comes down to break the next support level 220.36, again. Just guess. http://www.forexfactory.com/images/icons/icon12.gif
Well thats all we cna do at this point: guess. We guess until it starts to move and then act on the movement.
  • #926
  • Mar 5, 2007 11:56am Mar 5, 2007 11:56am
AAAAAAAAAAAAAAAAAARGGHGHHH!!

The cable is failing! Doomsday is coming!

(Everyone please sell in panic, and let me on a good trade

I hope it will go down some more... wouldn't mind a week or two, and then for another good strong up trend all year long...
Greed and impatience are our greatest enemies.
  • #927
  • Mar 5, 2007 2:28pm Mar 5, 2007 2:28pm
Quoting trader8686
There is another possibility, we may not see it comes down to break the next support level 220.36, again. Just guess. http://www.forexfactory.com/images/icons/icon12.gif
Daily Chart down trend is still very strong. Tokyo should set the tone for tomorrow.
  • #928
  • Mar 5, 2007 2:43pm Mar 5, 2007 2:43pm
Quoting im7i4z
Daily Chart down trend is still very strong. Tokyo should set the tone for tomorrow.
Excuse me, maybe this is culture gape: What is "Tokyo should set the tone for tomorrow" ?
  • #929
  • Mar 5, 2007 2:48pm Mar 5, 2007 2:48pm
I highly doubt it!! As in the Asian session will set the trend that will follow thru on the EUR & US sessions

bobtuf
  • #930
  • Mar 5, 2007 2:49pm Mar 5, 2007 2:49pm
Quoting trader8686
Excuse me, maybe this is culture gape: What is "Tokyo should set the tone for tomorrow" ?
Throw the bone...
  • #931
  • Mar 5, 2007 3:18pm Mar 5, 2007 3:18pm
Quoting cesarnc
Throw the bone...
Thanks. Not funny!
  • #932
  • Mar 5, 2007 3:54pm Mar 5, 2007 3:54pm
Well we are having a push downwards. Who thinks that it will break and go through the 221 level. Or will this be another bounce situation?
  • #933
  • Mar 5, 2007 3:58pm Mar 5, 2007 3:58pm
has to break previous low of 221.20 first if we are to see a significant down move
  • #934
  • Mar 5, 2007 4:25pm Mar 5, 2007 4:25pm
hmm it has dropped over 1,000 pips in a week, could be a little tired of going down, but then again this is the gbp/jpy, has been known to move 4,000 pips in one direction before reversing... like everyone has been saying, we will just have to wait and see
  • #935
  • Mar 5, 2007 4:40pm Mar 5, 2007 4:40pm
Quoting trader8686
Excuse me, maybe this is culture gape: What is "Tokyo should set the tone for tomorrow" ?
Yesterday JPY data came bad yet Yen got stronger. Tomorrow at london session we have some GBP data coming. From my personal experience, if Tokyo session it breaks few major support... it wouldnt matter if GBP data comes good or bad... Yen will end the day strongly.

Nothing cultural about it. :-)
  • #936
  • Mar 5, 2007 4:42pm Mar 5, 2007 4:42pm
Quoting im7i4z
Yesterday JPY data came bad yet Yen got stronger. Tomorrow at london session we have some GBP data coming. From my personal experience, if Tokyo session it breaks few major support... it wouldnt matter if GBP data comes good or bad... Yen will end the day strongly.

Nothing cultural about it. :-)
hope youre right
  • #937
  • Mar 5, 2007 5:16pm Mar 5, 2007 5:16pm
sorry if this seems like a noob question but since gbp interest annoucement is coming up on thurs....could we see a long term bullish run again if UK unexpectedly decides to up their interest rate? I remember when they went from 5 to 5.25 it helped sustain the bullish run for a least another...
  • #938
  • Mar 5, 2007 5:20pm Mar 5, 2007 5:20pm
I feel as though I am on a wild ride on a runaway freight train. I expect to start hearing the train whistle any time. My problem is to find the next station or grade which is likely to stop it.

When I look at the charts, the sturdiest support I find is at 213.50. It is the only area where I find support somewhat stronger than the areas it has already blown through. That is about 800 pips south of where we are at present.

This pair is known for moving far and moving fast, but even this pair does not move this far this fast, and I just cannot see another 800 pips in the immediate future. Probably over several weeks, yes, but not in the next 2 or 3 days. Does anyone else see anything likely to stop it?
  • #939
  • Mar 5, 2007 5:21pm Mar 5, 2007 5:21pm
Did it to me again. Left out the chart, so here it is.
Attached Image
  • #940
  • Mar 5, 2007 5:30pm Mar 5, 2007 5:30pm
let's see if it sinks again at 222.30.
Nihil Sine Deo.
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