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Daily GBP/JPY analysis

  • #3,941
  • Edited 8:59am Apr 25, 2007 8:48am | Edited 8:59am
Quoting Plutonite
Not quite an upward break yet, but definite bullish bias for sure. If 238 is broken again I think it will shoot up this time. Stops above 238.10.
Agreed 237.90/95 critical resistance. it might shoot but to play safe to look support in 238.00+ sector. might be just over burst to get on the mood to turn cold sholder

just personal observation is . everyting over 238.xx starts get good bargain for shorts. have been hammering too long same level.

time will show
  • #3,942
  • Apr 25, 2007 8:56am Apr 25, 2007 8:56am
Quoting cesarnc
People, Yen pairs are not being traded for days here. Uj is just making water between 118.30 and 118.80.

This is because, NOBODY knows what is the value of this pair. Tomorrow's and Friday's news will tell this. Then comes the breakout. 5-10 pip out of the trendline is not a blast, c'mon....

Consider going where the money is flowing to and from. GU and EU are giving AWESOME dips there... Kiwi and Swiss, too
Thanks Cesar, I just checked it out, GU and EU the 4H chart are dip big.
  • #3,943
  • Apr 25, 2007 8:58am Apr 25, 2007 8:58am
Again, thanks for the look out one another.
  • #3,944
  • Apr 25, 2007 9:12am Apr 25, 2007 9:12am
UJ sinking... Is that Bernanke's?
  • #3,945
  • Apr 25, 2007 9:17am Apr 25, 2007 9:17am
Quoting cesarnc
UJ sinking... Is that Bernanke's?
Or the less than expected data. Anyway, scalp done, 15 pips, not to be looked down upon in these days of nuttiness. GBP is moving step for step with the dollar though, but not so fast due to GBPUSD buying. Like you, I am out of this market for now.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #3,946
  • Apr 25, 2007 9:22am Apr 25, 2007 9:22am
Quoting cesarnc
UJ sinking... Is that Bernanke's?

Cesar, the sinking was due to worst than expected New Home Sales. But, now, U/J rising....I don't have a live feed for Bernanke, but I suspect this pullback may be due to what he is saying.

Either that, or we are seeing the result of E/U reaching the psychological high and backing off.
  • #3,947
  • Apr 25, 2007 9:25am Apr 25, 2007 9:25am
Quoting cheese
Cesar, the sinking was due to worst than expected New Home Sales. But, now, U/J rising....I don't have a live feed for Bernanke, but I suspect this pullback may be due to what he is saying.

Either that, or we are seeing the result of E/U reaching the psychological high and backing off.
Thanks cheese... I magined that the news was the trigger, but Uj's reaction was excessive compared to other USD pairs... Made GJ sink with it...

Huge volatility in the Yen pairs, while other majors are trading more technically after the news...
  • #3,948
  • Apr 25, 2007 9:26am Apr 25, 2007 9:26am
nah... trading in this market wont give a good RR... with 8 pip spread its worthless going after 30/40 pips.

C ya everyone on May 2nd week. Its time to spend the money you made in that 2000 pip boom of feb.
  • #3,949
  • Apr 25, 2007 9:27am Apr 25, 2007 9:27am
Quoting cesarnc
Thanks cheese... I magined that the news was the trigger, but Uj's reaction was excessive compared to other USD pairs... Made GJ sink with it...

Huge volatility in the Yen pairs, while other majors are trading more technically after the news...

Yea...it was frustrating. whats more frustrating is that earlier this morning, according to my trendlines I had set up for U/J, I had a high of 118.85 expected, which it hit, but rather than follow that, stupid me thought that we might actually have a potential breakout out to the upside with more good news. I shoulda known better.
  • #3,950
  • Apr 25, 2007 9:32am Apr 25, 2007 9:32am
Quoting cheese
Yea...it was frustrating. whats more frustrating is that earlier this morning, according to my trendlines I had set up for U/J, I had a high of 118.85 expected, which it hit, but rather than follow that, stupid me thought that we might actually have a potential breakout out to the upside with more good news. I shoulda known better.
I took a tumble doing that with Yen on Monday. Breach of 119.02 was a clear breakout... Yes?

BIG FAT NOOOOO... It sank to 118.25 in the same day, dragging my trades to hell with it.
  • #3,951
  • Apr 25, 2007 9:36am Apr 25, 2007 9:36am
Quoting cesarnc
I took a tumble doing that with Yen on Monday. Breach of 119.02 was a clear breakout... Yes?

BIG FAT NOOOOO... It sank to 118.25 in the same day, dragging my trades to hell with it.

These fake out break outs are frustrating...lol
  • #3,952
  • Apr 25, 2007 9:42am Apr 25, 2007 9:42am
Quoting cheese
These fake out break outs are frustrating...lol
yup... you think "it's gonna bounce off 118.80 and push to the skies... hmmm off 118.70 then..... oh, no the bounce is at the pivot 118.50.... oh oh... 118.30 now? "

  • #3,953
  • Apr 25, 2007 9:43am Apr 25, 2007 9:43am
BTW, Dow Jones printed 13k big figure today.... Poor response from the carry trades, but I guess NYSE is stalling the downside here, too...
  • #3,954
  • Apr 25, 2007 9:52am Apr 25, 2007 9:52am
10:34Perhaps higher DJIA aiding USD/JPY here
  • #3,955
  • Apr 25, 2007 10:03am Apr 25, 2007 10:03am
I wonder what would happen tomorrow if dow starts profit taking along with good Yen data. We might finally see the end of this stalemate.
  • #3,956
  • Apr 25, 2007 11:25am Apr 25, 2007 11:25am
I'm so glad I'm not trading today. Been one big frustrating week so far.
All hard work brings a profit, but mere talk leads only to poverty.
  • #3,957
  • Apr 25, 2007 11:33am Apr 25, 2007 11:33am
Yeah with all of the JPY data out tomorrow I'm taking a day off.
  • #3,958
  • Apr 25, 2007 11:35am Apr 25, 2007 11:35am
Quoting Sami7
I'm so glad I'm not trading today. Been one big frustrating week so far.
bouncy conditionts indeed. i quess lot of people placing ther bets for coming event.
  • #3,959
  • Edited 4:23pm Apr 25, 2007 4:20pm | Edited 4:23pm
Did somebody say something? What happened to the price? (And the server?)
Gone to a better place
  • #3,960
  • Apr 25, 2007 4:27pm Apr 25, 2007 4:27pm
16:15 USD/JPY continues to hold between 118.20 area and 119. Perhaps tonight's CPI release will push it out of the range.



The "Perhaps" is what bothers me though
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