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Daily GBP/JPY analysis

  • #2,221
  • Apr 2, 2007 10:19am Apr 2, 2007 10:19am
Quoting superdezign
I have to go with you buddy, but I actually closed my entire position, If a dip finds some good support I might enter long again but not sure if that would be to hasty, I may wait until it hits some really strong support such as a trend line and see how it reacts around those price levels.
(107 pips profits on last trade)
I'm only adding on dips backed by strong Dow and GU supported. Otherwise no way.... GU GJ, EU, EJ at annoying high levels by now....

However, there are reports of bulls targeting GU at mid-98s / low 99s before rate statement on Thursday. That could easily prop GJ to the roof on the upcoming days.
  • #2,222
  • Apr 2, 2007 10:48am Apr 2, 2007 10:48am
hi buddies,

please keep up the good work. It's really an interesting thread!
  • #2,223
  • Apr 2, 2007 10:53am Apr 2, 2007 10:53am
UJ and GJ are being sold furiously at 117.8 and 233 one time after the other. There are some nervous traders preventing from 118 and 233+
  • #2,224
  • Apr 2, 2007 11:13am Apr 2, 2007 11:13am
well I chickened out at 232.77, for me there is no point trying to catch going lond now, so I just will chill in the cornen here and watch for the waive down
  • #2,225
  • Apr 2, 2007 11:44am Apr 2, 2007 11:44am
Quoting Vitaliy
well I chickened out at 232.77, for me there is no point trying to catch going lond now, so I just will chill in the cornen here and watch for the waive down
Be patient buddy, they are only fueling the rocket today. With speculation of a BOE rate hike in the air there may not be much of a wave down but a dip into the 232.50's would be a good buying opportunity.
The DJIA is the only thing holding G/J below 233 today. A break above and 238 could be the next stop. Holding long for now.
  • #2,226
  • Apr 2, 2007 11:53am Apr 2, 2007 11:53am
4 hour and hourly are overbrought and i personally think that it will now come down atleast to 231 before any further upward move... Anyone else want to shed some light on GJ
  • #2,227
  • Apr 2, 2007 12:08pm Apr 2, 2007 12:08pm
Quoting wep561
Be patient buddy, they are only fueling the rocket today. With speculation of a BOE rate hike in the air there may not be much of a wave down but a dip into the 232.50's would be a good buying opportunity.
The DJIA is the only thing holding G/J below 233 today. A break above and 238 could be the next stop. Holding long for now.
Agreed....

Those who can stay tuned by later NYC. There were times before that GJ started moving very very slowly by late NYC until Tokyo open in the same direction. Confirmig NYSE up after Europe up this is a possibility to consider today.
  • #2,228
  • Apr 2, 2007 12:10pm Apr 2, 2007 12:10pm
Well, for me GJ is long for the day, the week, and even maybe the MONTH!
  • #2,229
  • Apr 2, 2007 2:48pm Apr 2, 2007 2:48pm
How many times will it test this level before it figures out one way or another which way it's going?
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,230
  • Apr 2, 2007 2:53pm Apr 2, 2007 2:53pm
Quoting Sami7
How many times will it test this level before it figures out one way or another which way it's going?
Annoying, huh?

Dow made new intraday high 30 min ago, about to close in the green... Don't see why not above 233 shortly.
  • #2,231
  • Apr 2, 2007 3:10pm Apr 2, 2007 3:10pm
Quoting cesarnc
Annoying, huh?

Dow made new intraday high 30 min ago, about to close in the green... Don't see why not above 233 shortly.
You bet! Got out of my long banked 50 pips been waiting what seems like hours....oh wait...it has been hours.
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,232
  • Apr 2, 2007 3:41pm Apr 2, 2007 3:41pm
Quoting Sami7
You bet! Got out of my long banked 50 pips been waiting what seems like hours....oh wait...it has been hours.
Well, at least 233 is no breaking news already... 233.08 would be

Looks like when it "touches" 233.08 it's going to stop at 240
  • #2,233
  • Apr 2, 2007 3:56pm Apr 2, 2007 3:56pm
The new Japanese fiscal year has seen little in the way of [JPY] flows, though the talk over the past few weeks of Japanese insurers planning to increase their overseas bond holdings suggests a weak tone will remain. Usd/Jpy, though, remains weighed by touted 118.40 and 50 barrier defense, plus tech selling ahead of the 100-day m.a., at 118.60. The latter in particular will need overhauling if extended Jpy slippage is to pan out. Asian names have been bidders during the day, though have run into offers ahead of 118.00 - with real money accounts also reported to have sell interest above there. An east European CB has again been a repeated bidder of Gbp/Jpy to force a marginal new high for the month, though the cross faces a key chartpoint around 233.75, marking the 61.8% retracement of the losses off the year's highs. With Gbp sentiment on the up, an eventual test looks to be on the cards.
  • #2,234
  • Apr 2, 2007 4:03pm Apr 2, 2007 4:03pm
http://i130.photobucket.com/albums/p...dedfyter/1.gif

nice looking ascending triangle on the 15min... although youd have to wait until tokyo or london session for a breakout
  • #2,235
  • Apr 2, 2007 4:15pm Apr 2, 2007 4:15pm
Quoting karma729

nice looking ascending triangle on the 15min... although youd have to wait until tokyo or london session for a breakout
Nice chart, I missed that one...
  • #2,236
  • Apr 2, 2007 4:23pm Apr 2, 2007 4:23pm
inching up here! break 233.08 please
  • #2,237
  • Apr 2, 2007 4:28pm Apr 2, 2007 4:28pm
Could be wrong, thinking if we do head up it may be short-lived - looking for a down movement and then up.
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,238
  • Apr 2, 2007 4:38pm Apr 2, 2007 4:38pm
Quoting Sami7
Could be wrong, thinking if we do head up it may be short-lived - looking for a down movement and then up.
Maybe you're right... GU is running on fumes too and Yen is a damn pair today...

I'm holding a +40 pips GJ position now... Gonna set buy limits below and start praying not to sink to 221 during Asian session.

Had a buy stop at 233.08 + spread and chickened out... Was better this way...
  • #2,239
  • Apr 2, 2007 4:46pm Apr 2, 2007 4:46pm
Quoting cesarnc
Maybe you're right... GU is running on fumes too and Yen is a damn pair today...

I'm holding a +40 pips GJ position now... Gonna set buy limits below and start praying not to sink to 221 during Asian session.

Had a buy stop at 233.08 + spread and chickened out... Was better this way...
Looking at the following indicators:

Have tested the 233 level numerous times making it now a level difficult to break through - rSI and SS at near top on hourly
From the MOST recent move up we are at the 100% on a fibo. Daily chart is also looking like down time is coming.

Anyone else?
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,240
  • Apr 2, 2007 4:48pm Apr 2, 2007 4:48pm
Quoting Sami7
Looking at the following indicators:

Have tested the 233 level numerous times making it now a level difficult to break through - rSI and SS at near top on hourly
From the MOST recent move up we are at the 100% on a fibo. Daily chart is also looking like down time is coming.

Anyone else?
2nd time failing 233 since 03.26 is what worries me the most...

Just noticed that current 4hr candle opened 233.01.... I like that... But that brings "mixed indicators" to the table... Now I'm OFFICIALLY Lost
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