The Experts Zone: GBPJPY

Dragon had succesfully breached the old tl dating back from the 23rd of Jan. A bearish formation however seems to be in the works. Depending on how the next 4hr finishes, new entry at this point is not advisable. Will be watching this like a hawk. Good luck

yeah dj opened lower, it will be tricky entering fresh longs here.

i will wait to see how 143.55 plays out.

This Thread:

Well, for starters, this thread is not educational outright, it is meant for us experts to discuss the beast, and figure out the possible trades.

But, since we do discuss them with charts, something can be picked up here and there.

So, if learning forex is your agenda, then this thread is not for you, but if catching the dragon moves is your agenda, then this thread is definitely for you.

With that said, it seems the 9 people who said No, were newbies out for learning forex only.

Plus, I will not entertain om messages for learning forex, I do not have time for that.

Looks like we have a lot of speaking competition between today and tomorrow, almost everyone wants to speak something, even obama is scheduled to say his piece.

With that said, GJ is currently in a very tricky situation.

But for scalpers its the best season.

I am looking forward to picking up fresh longs from the yellow line, if it holds, this is also the resistance turned support discussed in post #93

I thought this could be useful, just whipped it up on the spur of the moment.

Once we broke the daily candle trendline, its all the way down to test the yellow line at 141.74

The move was expected as you do not go a thousand points up with no pullback. So unless 141.7 major support is fully breached, there is no cause for concern for buying. Personally, I'll be looking to add to my position @141.7 test or 143.0 break. Will sell should price close below the 141.7 support. Usd Jpy 97.5 support is also currently tested, we'll se how that turns out. (as usual, this is just a personal call)
Good luck

That was awesome !!

I had a short for 20 pips, but i got 56 on that spike, long live slippage and spikes

I will be watching this very closely, and decide on the next trade action only after Tokyo open.

It seems that 141.70 will hold, and give us a good long entry.

Lets see at Tokyo what comes out.


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And someone please pm me a good resource from where I can download "eurodance" category mp3's

I'll prolly sound like a parrot echoing what lion just said, but agreed, at the moment 141.7 support seems to be holding. Usd Jpy had dipped below the 97.5 support & the correlation atm is obvious, except for the accelerated volume difference between the two. No trades atm. Good luck

The close on my 6hrly was above the 141.7 support level and with a hammer formation. Possible reversal in the works.
The usd jpy also closed above the 97.5 support, atm, it does look bullish again. Let's see.

Well, I am scalping only till the upper trendline for now, if it breaks then we go higher, else we take a break from the trend for the rest of this week here.

Overall, 141.70 should hold.

The party spoiler is the 4 hour chart which has gone into consolidation, which means we now trade in tight range scalps.

We need a trendline break to set a direction.

Lets see if this analysis works:

1. Thursday today, we just go up to 143.55, or maybe touch the upper trendline at most, then bounce back to 141.70.
2. Friday, should also be consolidation stage.
3. NFP next week should give a pin prick to GJ boosting it to 155.87 levels.
4. Overall, it will be April which will boost GJ.

Good morning. This a followup to post #112. The previous close on the 6hr and daily seems to play out as expected with the 141.7 level still being a valid support.
Obvious target atm is to look for a break above 143 level back towards further test @145 level.
Good luck

With mystery pointing down and 142.72 holding out as resistance, I am happier watching movies on TV instead.

But, at the same time I will never short this beast, not until 141.70 is holding out as a major support.

And, as long as mystery is pointing down, I will not long either.

So, for all purposes I am on the fence.

If the ranking on this page goes from 277 to top 10, I will put all my indicators on here.

A good move there, couldn't help myself scalping 73 pips off that move in 2 trades.

But that upper red trendline needs to break, if we need to see any further up move, the 4 hour however is still pointing to a range trade.

Hey bro, you are doing a really good job, I love your analysis.