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Daily GBP/JPY analysis

  • #2,901
  • Apr 9, 2007 4:52pm Apr 9, 2007 4:52pm
At least it's almost over....here at least

Quoting cesarnc
"Future" is all we have to rely on after this lousy day...

It happens that some strong statements made here during a nearly non-trading-day get to my nervers... Trendline BUSTED declarations, trend reversal, the whole package.

The market today was a FART. And everybody spent the whole day trying to figure out where this HURRICANE was going to....
  • #2,902
  • Apr 9, 2007 5:49pm Apr 9, 2007 5:49pm
Quoting tradeigel
At least it's almost over....here at least
Patience was the key to go thought a 2,400 hours-like Monday
  • #2,903
  • Apr 9, 2007 6:15pm Apr 9, 2007 6:15pm
You can go long or short or stay out.

Till it breaks the range. Best position is stay out.
  • #2,904
  • Apr 9, 2007 6:32pm Apr 9, 2007 6:32pm
hi imz4,
what range are u looking at? i have the same attitude, i've got a buy stop at 234.72 and im waiting for an upside breakout, i think we're due for one in either direction after the consolidation of the last few days and it seems to me like GJ is sitting on some pretty heavy support. how are you playing it?

NasdaqNinja
  • #2,905
  • Apr 9, 2007 6:36pm Apr 9, 2007 6:36pm
finally getting some active ranging out of the geppy
  • #2,906
  • Apr 9, 2007 6:40pm Apr 9, 2007 6:40pm
lol its acting so weird that all my indicators are poiting in different directions
  • #2,907
  • Apr 9, 2007 6:44pm Apr 9, 2007 6:44pm
Quoting im7i4z
You can go long or short or stay out.

Till it breaks the range. Best position is stay out.
Agreed. Everybody knows 235 is the boogey man, I'll wait till 235.20 to jump in. Support is 233.60 from where I'm sitting, I'd sell at 233.50 if it get's there before the end of eternity. It's finally starting to breathe in the Asian session at last.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #2,908
  • Apr 9, 2007 7:27pm Apr 9, 2007 7:27pm
Quoting Plutonite
Agreed. Everybody knows 235 is the boogey man, I'll wait till 235.20 to jump in. Support is 233.60 from where I'm sitting, I'd sell at 233.50 if it get's there before the end of eternity. It's finally starting to breathe in the Asian session at last.
Nice levels... Although I'm a buyer all the way.

Got small buy stop at 234.70 (incl. spread) as breach of Friday's high and another at 235.20 (thanks for that one)

Buying 233.60 and 232.60, too. Current long 233.90.

May the Asian gods help BOJ not to screw up.
  • #2,909
  • Apr 9, 2007 7:29pm Apr 9, 2007 7:29pm
[JAPAN AHEAD] BOJ concludes its 2 day policy meeting today. With deflation, even if temporarily, seen rearing its ugly head again, and the recent Tankan survey showing firms outlk as slightly less robust; the overnight rate is comfortably set to be left on hold for the 2nd mth in a row at 0.5%. As usual Gov Fukui's follow up press conference (6.30GMT) will draw more attention from mkt pundits for clues on the timing of further rate hikes; whilst eyes will be on whether the Bank maintains its assessment that the economy is "expanding moderately" in its earlier released mthly economic report release for April (due 6.00GMT).
  • #2,910
  • Apr 9, 2007 7:31pm Apr 9, 2007 7:31pm
Quoting cesarnc
Nice levels... Although I'm a buyer all the way.

Got small buy stop at 234.70 (incl. spread) as breach of Friday's high and another at 235.20 (thanks for that one)

Buying 233.60 and 232.60, too. Current long 233.90.

May the Asian gods help BOJ not to screw up.
I still am a bit confused what is the impact of BOJ on cable then???
  • #2,911
  • Apr 9, 2007 7:32pm Apr 9, 2007 7:32pm
you are in the gbp (cable) / jpy (yen) thread
  • #2,912
  • Apr 9, 2007 7:38pm Apr 9, 2007 7:38pm
Quoting bmwboyee
you are in the gbp (cable) / jpy (yen) thread
Sorry Mate
  • #2,913
  • Apr 9, 2007 7:40pm Apr 9, 2007 7:40pm
no worries. stay a few
  • #2,914
  • Apr 9, 2007 7:43pm Apr 9, 2007 7:43pm
watch the yen strength in cash should be across the board, Yen appreciation is strong bias according to the futures
"Millionaires don't use astrology, billionaires do"
  • #2,915
  • Apr 9, 2007 7:46pm Apr 9, 2007 7:46pm
Not often you get 5 inside days on GJ. ie all 5 within the range of 4-03. Possible TLB south on daily. I'm short
  • #2,916
  • Apr 9, 2007 8:27pm Apr 9, 2007 8:27pm
Quoting Trade888
Not often you get 5 inside days on GJ. ie all 5 within the range of 4-03. Possible TLB south on daily. I'm short

I think we are good into the 19th-24th on the shorts at least Trader8
"Millionaires don't use astrology, billionaires do"
  • #2,917
  • Apr 9, 2007 8:32pm Apr 9, 2007 8:32pm
Quoting OrionsWay
watch the yen strength in cash should be across the board, Yen appreciation is strong bias according to the futures
Orian, how are you coming up with this "strong bias according to the futures?"
"Only when the tide goes out will we know who is swimming naked."
  • #2,918
  • Apr 9, 2007 8:51pm Apr 9, 2007 8:51pm
Quoting pipped oFF
Orian, how are you coming up with this "strong bias according to the futures?"

this is the cme link
http://www.cme.com/trading/dta/hist/...vailable=false

If you go through the days u will see OI is dropping into the highs friday it rose as market stalled, proababilities would think thiose were shorts coming to the table in cash as the longs are liquidating in cash, and i would bet that tonight when todays update comes in there is more additions to the short camp cash or long yen futures,
"Millionaires don't use astrology, billionaires do"
  • #2,919
  • Apr 9, 2007 8:52pm Apr 9, 2007 8:52pm
Will this pair break thru 233.60?
All hard work brings a profit, but mere talk leads only to poverty.
  • #2,920
  • Apr 9, 2007 8:59pm Apr 9, 2007 8:59pm
Quoting Sami7
Will this pair break thru 233.60?
Gotta check on BOJ statement today. The current move is a dollar selloff going on, although I have no idea why it's happening. At that time.

GU and UJ are slightly unbalanced causing GJ to drift down. Better wait for dust settles first. So far no reason for panic

But BOJ statement can change the picture.
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