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Daily GBP/JPY analysis

  • #1,401
  • Mar 13, 2007 4:27pm Mar 13, 2007 4:27pm
If it can break 233.80, it should easily go down to 233.40 area.
  • #1,402
  • Mar 13, 2007 4:31pm Mar 13, 2007 4:31pm
Quoting quickpips
If it can break 233.80, it should easily go down to 233.40 area.
Do you mean 223.80?
  • #1,403
  • Mar 13, 2007 4:33pm Mar 13, 2007 4:33pm
Well it 'touched' 223.80 but that doesn't count

Hopefully it will try again. I have scaled out my shorts just in case though...
  • #1,404
  • Mar 13, 2007 4:35pm Mar 13, 2007 4:35pm
Sorry for the mistype, I meant 223.80.
  • #1,405
  • Mar 13, 2007 5:02pm Mar 13, 2007 5:02pm
Now, what is it doing ? after the bounce on 223.75
Does anyone here have a clu ?
  • #1,406
  • Edited 5:11pm Mar 13, 2007 5:03pm | Edited 5:11pm
From my point of view, looking on the daily chart we see a perfect retracement from swing high and low to .50 fib.

The price has broken 225, which is, in my opinion, bearish for pair, now it is testing 224.50, but no success...

We might see 221.20 this week

If anyone has some oppinions on this please share them here, thanks

Let the pips be with You and stay with You

http://img187.imageshack.us/img187/2192/gbpjpyye5.gif
  • #1,407
  • Mar 13, 2007 5:09pm Mar 13, 2007 5:09pm
So, did anybody say the upcoming week? then, what are we going to do for the rest of this week?
  • #1,408
  • Mar 13, 2007 5:12pm Mar 13, 2007 5:12pm
Ooops, my bad, I mean this week lol

I seriously need some sleep

UPDATE: This week we might as well play some chinese checkkers if it gets too boring to watch the freefall (if any happens)
  • #1,409
  • Mar 13, 2007 5:15pm Mar 13, 2007 5:15pm
Quoting Dexis
Ooops, my bad, I mean this week lol

I seriously need some sleep
Great! I saw you corrected in your message. That was fast! http://www.forexfactory.com/images/icons/icon12.gif
  • #1,410
  • Mar 13, 2007 5:17pm Mar 13, 2007 5:17pm
7 bear candles in a row on 1hr.... i think tokyo will open up
  • #1,411
  • Mar 13, 2007 5:19pm Mar 13, 2007 5:19pm
Quoting trader8686
Great! I saw you corrected in your message. That was fast! http://www.forexfactory.com/images/icons/icon12.gif
Yeah because my subliminal voice was telling me I need more PIPS NOW, not upcoming week
  • #1,412
  • Mar 13, 2007 5:24pm Mar 13, 2007 5:24pm
Dexis,

Just like to learn some skill here (although I did it good in PT today):
At the beginning of this draw down-
Why did you all have to wait until after 225.00 to get in to short?
I saw quite solid opportunity 40 - 50 pips above 225.00, you can make more pips that way. Can't you?http://www.forexfactory.com/images/icons/icon5.gif
  • #1,413
  • Mar 13, 2007 5:26pm Mar 13, 2007 5:26pm
Any of you guys see this heading back up in Asian session before falling again?
If you can't produce some results and make some serious PIPS, YOU'RE FIRED!
  • #1,414
  • Mar 13, 2007 5:29pm Mar 13, 2007 5:29pm
Quoting karma729
7 bear candles in a row on 1hr.... i think tokyo will open up
I think market will open below the daily pivot point, which means the pair should head south with all the bells and whistles, but various stuff might happen, so I'll better go to sleep without worrying about my pips put in the "elliot-microwave-oven-o-matic pip cooker powered by asian markets" unless it breaks 223.65 in 10 minutes

There are more pips to hunt on other pairs anyway....
  • #1,415
  • Mar 13, 2007 5:29pm Mar 13, 2007 5:29pm
Dexis,

Shall we continue to short again? It is going down again.
  • #1,416
  • Mar 13, 2007 5:30pm Mar 13, 2007 5:30pm
i hope not, just broke .80. im holding short with a stop loss of about 100 pips so i dont get stopped out.
  • #1,417
  • Mar 13, 2007 5:33pm Mar 13, 2007 5:33pm
maybe try and get in if it breaks 223.40 cleanly, cause the next stop could be 222.50. thats how i see it .
  • #1,418
  • Mar 13, 2007 5:35pm Mar 13, 2007 5:35pm
Quoting NasdaqNinja
maybe try and get in if it breaks 223.40 cleanly, cause the next stop could be 222.50. thats how i see it .
Thanks and good luck!
  • #1,419
  • Mar 13, 2007 5:35pm Mar 13, 2007 5:35pm
Quoting Qwiktrader
Any of you guys see this heading back up in Asian session before falling again?

hmm I'm thinking about it. Some resistance around the 22360/70 area. And the 1hr RSI is waaay oversold.
Waiting and watching the moment. This pair retraced about 150 points already in this down move (225 -> 226.5) so a long around here for a few quick pips is not out of the question.
  • #1,420
  • Mar 13, 2007 5:36pm Mar 13, 2007 5:36pm
Quoting trader8686
Dexis,

Just like to learn some skill here (although I did it good in PT today):
At the beginning of this draw down-
Why did you all have to wait until after 225.00 to get in to short?
I saw quite solid opportunity 40 - 50 pips above 225.00, you can make more pips that way. Can't you?http://www.forexfactory.com/images/icons/icon5.gif
Let me be sincere about this one.

It's always good to take more pips, but in such volatile background I was not sure if the price will manage to keep the downwards pressure, so I've set 225 as my personal resistance line, that's all. Big players like those round numbers, and if You would take a look at the charts price bounced about 225 for about an hour, and only then went south.... So I took cautious approach.
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