Daily GBP/JPY analysis

April 3 (Bloomberg) -- Japan's rising land prices herald the economy's return to inflation, and may lift the yen, stocks and bond yields, Lehman Brothers Japan Inc. said.
Land prices nationwide climbed 0.4 percent in 2006, the first increase in 16 years, the government said last month. Commercial prices in the three largest cities rose 8.9 percent with values in some parts of Tokyo jumping as much as 46 percent.

this gj looks very bullish to me. i'm scalping.
scalp can however, turn into a big pip depending.

this area gj is in now, is not a bad place to try for a short in my opinion.

well thats surely good against the greenback...but im not sure if it will trigger the pound since we have more supports at now the new 233.00 level. If in anycase..the news seems to trigger the move up, i gues the word inflation is taboo. hehe

it seems those russians are back

"we hear Russian names the seller of gbpjpy there "

yeah right blame russians in everything

doubled my position of gj @ 233.42.

double in what short or long ?

Closed out earlier for a total of 295 pips since the open. Waiting as well to jump back in. Thanks for all the input fellas, may the pips be with you!

3rd position for short 233.65

reversal trading? are you feeding me pips? hehe. Well lets see where mr yen and mr pound wanna look like.

why would you want to trade the GBPJPY pair? is it because of it's small whipsaw price action or because it's a trending pair?

...i think its because the price action is wild...thats why it attracts speculators. but i take it as a pip harvester. My entries are usually based on the 4hr.

This thing is climbing at a nice rate. If you look back starting at January 8th the carry didn't pull back much at all. Shorts be careful, i hope your not still open.

never never go against this bulldozer unless you have a real good reason for it. i've learnt my lessons

234.00 was a 'decent' place to short.
if the hourly bar closes above 234.10, reconsider trading this pair until consolidation.

this pair looks very bullish.

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i am currently -65 pips on this trade. with -28 i lost before is -93 pips.
actually.. -65x2(i doubled my lots)=-130-28= -158 pips.

not feeling too good right now. i'm hurting.

Well trend is friend...if you are punting to find the top just be careful not to get sliced off. Resistance at 233 was broken wityh alot of efficiency now 234...clean cut.

My question ... instead of looking to buy on weakness you guys go against the trend and punt the top? Imagine how many pips you would have made back by just following the trend and buy back during the consolidated weakness at 233.1. No pun intended. Maybe its a lesson learnt by everyone here as well. And then you martingled your losing position, thats revenge trading, i twice busted my account by doing just that...in a day, i lost thousands of dollars and got a margin call...it hurts alot.

Well i am on 170 pips minus but i opened long on 233.73 also
SL 233.21
TP 234.40

Guys, this is a clear breakout. Why are people speculating on Sell Limits and all that nonsense? You're gonna lose money. The sterling is going up until the bulls have dispensed their energy and dropped dead, which wont happen before 235.60 if you look at the chart.

I've gone long since the morning and already made 50 sure-fire pips. This thing is not going down now. Buy sterling, buy much.

TP changed to 235.07

nice.

that's actually a good number you got there. i see it.
let's see how that works out with market psychology.