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Daily GBP/JPY analysis

  • #981
  • Mar 6, 2007 10:59am Mar 6, 2007 10:59am
Highjacking your thread with a long term view of the yen.

What do you think MKT? If this plays out (i.e U/J reaching 135) , GBPJPY will also make a higher high (+250s?)

We haven't yet touched the monthly support which is at ~ 114 though we might get a spike further below, so i think another drop will take place before the real big push up.


http://img101.imageshack.us/img101/8...monthlyha1.jpg
  • #982
  • Mar 6, 2007 11:07am Mar 6, 2007 11:07am
my indicators are showing long but not that much, i think that the asian session will show the trend to follow. lets see. since i entered the short in the middle of the rally i just lost my profit today (should be at +150/200), so im even atm but with a long opened, i like of volatility but not when we dont have a clear trend.
  • #983
  • Mar 6, 2007 11:15am Mar 6, 2007 11:15am
Quoting hazz
my indicators are showing long but not that much, i think that the asian session will show the trend to follow. lets see. since i entered the short in the middle of the rally i just lost my profit today (should be at +150/200), so im even atm but with a long opened, i like of volatility but not when we dont have a clear trend.
The above is a monthly chart though ;-)

I think short term (i.e. next few days): now long till 117.50-118 or so with pretty tight SLs, then short to 114-113, then I will load up a ton of longs
  • #984
  • Mar 6, 2007 11:54am Mar 6, 2007 11:54am
what i happen with gpb/jpy?there are a strong resistence at 22458
Sorry about my english...
  • #985
  • Mar 6, 2007 11:59am Mar 6, 2007 11:59am
Quoting CIORIMAU--
what i happen with gpb/jpy?there are a strong resistence at 22458
I think short term up to ~227.50s
  • #986
  • Mar 6, 2007 12:04pm Mar 6, 2007 12:04pm
Quoting Basilides
I think short term up to ~227.50s
why?
Sorry about my english...
  • #987
  • Mar 6, 2007 12:05pm Mar 6, 2007 12:05pm
Quoting Basilides
I think short term up to ~227.50s
tell me your msn messenger.
Sorry about my english...
  • #988
  • Mar 6, 2007 2:00pm Mar 6, 2007 2:00pm
sorry i don't use messengers. It goes without saying that I am simply giving opinions and exploring thoughts. I am not some guru or anything, far from it!! I urge everyone: DYOR "do your own research"
  • #989
  • Mar 6, 2007 2:22pm Mar 6, 2007 2:22pm
here is a daily view of the GBP/JPY. I see a H&S with the neckline broken at 232.50 or so. The distance from the top of the head to the neckline equals the distance from the neckline all the way down to 221 where the drop stopped. This is what one would expect from a H&S pattern. A 38.2 retracement would bring us at about 228, but i think more likely is to go for a 50fib retracement to 231.50or so, just shy of the current levels of the 50SMA. (Draw a longterm daily on the GBP/JPY and put a 50SMA, see how many times it acted as support, so now likely to be first major resistance on the way up. The fall from there might bring us back down to 229 (the 38Fib) or 226 (23.6Fib). Then I would prob expect a further rise to test the old neckline at 235, which are also the current levels of the 100SMA. Of course these are just my scribblings , any insights welcomehttp://img73.imageshack.us/img73/273...pydailykn6.jpg
  • #990
  • Mar 6, 2007 2:33pm Mar 6, 2007 2:33pm
Basilides,
I went in long at 22431 and the pips are raking up now however I have res lines at 22561 where it will hit the 300SMA and 22652 last week low point. It's broke the R1 at 22515 so could go some from here.
Question do find the FIB lines really work well on this pair ????
Have you always used them ???

Stay Lucky Mimas..
  • #991
  • Mar 6, 2007 2:36pm Mar 6, 2007 2:36pm
The GBP/xxx pairs look like they are poised to go LONG late Tuesday/ Wednesday. GBP/JPY I see a strong possibility of it going to the 227.00 level.
Show me the PIPS!
  • #992
  • Mar 6, 2007 2:49pm Mar 6, 2007 2:49pm
Quoting mimas
Basilides,
I went in long at 22431 and the pips are raking up now however I have res lines at 22561 where it will hit the 300SMA and 22652 last week low point. It's broke the R1 at 22515 so could go some from here.
Question do find the FIB lines really work well on this pair ????
Have you always used them ???

Stay Lucky Mimas..
Mimas, I think one should view Fibos and all other indicators and chart patterns etc as tools which work better when more than one of them combine to tell you the same thing. One of them alone may be lieing, but if I have an important SMA which has been acting as support for more than a year now and was broken on the way down, plus a a key Fib number at the same mark, there is a high probability that price will, at least, stall there. If/when it reaches that level, I will look at shorter time frames and price action to gauge its subsequent direction. See James16's thread for price action and a ton of other valuable information. I think it is a must read anyone who wants to learn how to trade.
  • #993
  • Mar 6, 2007 4:31pm Mar 6, 2007 4:31pm
Quoting tathlynq
The GBP/xxx pairs look like they are poised to go LONG late Tuesday/ Wednesday. GBP/JPY I see a strong possibility of it going to the 227.00 level.
Agree with you. Might shoot up to 227.50 to kick out the weak shorts first
  • #994
  • Mar 6, 2007 5:30pm Mar 6, 2007 5:30pm
I have +220 floating pips...
I told that my analysis have 90% accuracy in GBP/JPY

http://www.forexfactory.com/showpost...&postcount=976
With Regards, MKTrader Not Risk Not Gain!
  • #995
  • Mar 6, 2007 5:31pm Mar 6, 2007 5:31pm
In order to continue long it will have to break through the resistance at 226.50. We'll need a closed candle above this level along with a few other confirming signs. With this pair you have to see the invisible.
  • #996
  • Mar 6, 2007 5:39pm Mar 6, 2007 5:39pm
I just closed my JPY shorts for a nice fat profit. I am not convinced we have seen the end of the unwinding, plus we now have a two-candle formation on the daily that signals possible continuation of the previous days' fall. Getting ready to go yen long again. Gotta love this pair..
  • #997
  • Mar 6, 2007 5:49pm Mar 6, 2007 5:49pm
Quoting Basilides
I just closed my JPY shorts for a nice fat profit. I am not convinced we have seen the end of the unwinding, plus we now have a two-candle formation on the daily that signals possible continuation of the previous days' fall. Getting ready to go yen long again. Gotta love this pair..

Looks like we have a bounce off the Fib retrace spanning (monthly charts) from August 1990- April 1995. Level is the 61.8% from that 5 year move down... Price is 226.20---Looks like it hit it to the pip.
  • #998
  • Mar 6, 2007 6:05pm Mar 6, 2007 6:05pm
Some my friends on this thread PMed me about my system, i trying for explain my system but i can not explain all information this need times! so i'm apologize.

NOTE: at this time i'm working for make an expert advistor on GBP/JPY pair with a template(indicators) for MT4 platform when it done i post in here.

IT'S FREE...
With Regards, MKTrader Not Risk Not Gain!
  • #999
  • Edited 6:14pm Mar 6, 2007 6:12pm | Edited 6:14pm
Quoting mmccormac
Looks like we have a bounce off the Fib retrace spanning (monthly charts) from August 1990- April 1995. Level is the 61.8% from that 5 year move down... Price is 226.20---Looks like it hit it to the pip.

We also have an 89 EMA (hourly chart) at 226.18 and then the 23.6% fib retracement from the last major wave down at 225.92.




EDIT: 89 EMA at 226.19
  • #1,000
  • Mar 6, 2007 6:30pm Mar 6, 2007 6:30pm
I'm using MCAD with below set in M30 chart:

EMA Fast: 48
EMA Slow: 72
MACD SMA: 9
With Regards, MKTrader Not Risk Not Gain!
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