Daily GBP/JPY analysis

2nd that. Still in my long from Friday. Buying the dips. Thinking of changing my avatar also, .

actually you can compensate for volume in forex using tick count. not actually a volume. but close.

becareful with that resistance at 235. it is going to be tough.

Ok bravado volume is activity or lack of it that is the measure nothing more, is this plainly spoken enough for you to understand. The real ? is how are you going to apply this. Good luck with that.

What are your thoughts, think we will be getting a bounce back down from that price?

it has more to do with quantity not activity. 10 traders trading each 1 lot vs 1 trader trading 100 lots. the 10 traders would produce more orders (activity), but the 1 with 100 lot will bring in more volume.

Whatever you think.

now that just riles me up. now i'm pissed off. thanks for making so far a decent trading day into a havoc. the nerve of you.. "whatever you think."

those are true fighting words. i'll be back after i pipe down a little.

LOL dude if everyone intiates at the same price them 10 traders will get smoked and lose its just that simple, even if 99 traders trade 1 lot they still get smoked and volume will tick up +1 and price will decline

is this still the current structure? Looks like the tide has changed. long might be the way to go.

Whats all the fuss about, everybody has there own way at looking at the market, you have your and i have mines, plain and simple, don't like the way i look at the market then screw you, simple ain't it. k.i.s.s.= keep it simple stupid.

http://www.hickerphoto.com/data/medi...ng_sc_0016.jpg
http://www.cybersalt.org/cl_images/1...b/bullwait.jpg

this is from april 6th. might look for a long entry.

from your data above...i see a lower amt of liquidity once price reached the 240s area...so the longs are also getting smaller the vol of the shorts are still begger tho...correct me if im wrong...

yes from that picture from the 6th. but look at the one above that. it is from april 9th. it will paint a better picture.

http://fxtrade.oanda.com/resources/t...ve_GBP_JPY.png

the great mind of traders trying to sqeeze 15 cent out of a dollar on a day like this, i love it, let hope we get the 15 cent and not loose the other 85 cent.

thanks for that pic. i needed that for sure. so no change.

from Market preview for the week ahead:

Following the stronger than expected US employment data on Friday, the week will be off to a slow start on Monday. There are no major data releases and many markets will also still be closed for Easter holidays. The US payroll data has also eased immediate fears over US growth trends which will tend to stifle aggressive dollar selling attempts.

There should also not be any surprises from Tuesday’s Bank of Japan interest rate announcement with trading conditions again liable to be relatively slow.

From Wednesday onwards, there will be a series of important events. On Wednesday, the FOMC minutes from the March meeting will be released and these will be important for US interest rates, especially as there was uncertainty over the Fed’s true intentions after the statement was released following the meeting. The tone of the meeting will be important for US dollar confidence and the currency will be vulnerable if there is a vocal minority of FOMC members pushing for an early easing of monetary conditions. Fed Chairman Bernanke is also due to speak on Wednesday and Fed comments will remain very important this week given the importance of US interest rate trends.

The structural weaknesses in the UK and US economies will also be a significant factor with trade release from the UK and US on Thursday and Friday respectively. Markets will also remain on high alert for housing evidence from these two economies. A combination of widening trade deficits and weak housing data would be a negative factor for the dollar and Sterling.

The European Central Bank (ECB) will be held on Thursday and the decision should cause no surprise with rates held at 3.75%. The Euro-zone data has, however, been strong and markets will be on high alert for the extent of ECB warnings on the need for further interest rate increases to assess whetehr the amount of tightening already priced in is justified.

Markets will also be on alert for official comments on exchange rates ahead of the G7 meetings at the end of the week

thanks for the news. Looks like light movement until possibly Wednesday then.