Attachments: Daily GBP/JPY analysis

Daily GBP/JPY analysis

#16,141
Sep 12, 2011 3:24pm Sep 12, 2011 3:24pm

longshot_nl
Joined Jan 2010 | Status: .... | 3,910 Posts

Quoting TheMoneMaker

Disliked

Hopefully, Traders used my morning analysis for this pair by buying at 121.30/40 very crucial support level.
Targetting 123.00 first target then all the way toward 125.00
Around 300 pips TP(if no intervention appear) would be reasonable with buying again if retraced downward later on

Ignored

I saw it bounce off the 50% wide diagonal fib.
It could bounce off the 61.8 diagonal narrow fib at the yellow arrow.
This could be at the end of the month.

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#16,142
Sep 12, 2011 6:57pm Sep 12, 2011 6:57pm

TheMoneMaker
| Additional Username | Joined Sep 2011 | 51 Posts

Quoting longshot_nl

Disliked

I saw it bounce off the 50% wide diagonal fib.
It could bounce off the 61.8 diagonal narrow fib at the yellow arrow.
This could be at the end of the month.

Ignored

Yes, it might be a reversal point, lets see what this pair is hiding for us today.

My Analysis is:

Gbp/Jpy pair is still on daily downtrend, after hitting yesterday possible reversal price at 121.30/40(Good Buy), today low is at 122.10/15, a base below is toward 121.10/15 then possibly 120.50/55, while retracement at 122.75/80 break is to 123.60/70, above here would target 124.80/90

#16,143
Sep 13, 2011 5:57am Sep 13, 2011 5:57am

Numa
| Joined Sep 2011 | Status: Trader | 11 Posts

Hi,

a systematic large-scale analysis for GBP/JPY on a daily basis for more than 12 years using the Super-Trend indi is given here:

http://tradingresearch.wordpress.com...over-12-years/

tiny url: http://wp.me/p1M1iZ-6

The analysis is based on >12 years back testing for each currency pair. The best parameters for indicator use are given too.

Let's replace gut feeling with data :-)

#16,144
Sep 13, 2011 7:30pm Sep 13, 2011 7:30pm

Jebatfx
| Commercial User | Joined May 2008 | 2,795 Posts

Gbp vs Jpy (1H) - At the moment, I'm looking forward for a potential of bullish reversal scenario refering to the alt count in yellow. A bounce from the support critical line would bolster to this scenario. Otherwise, we may see another bearish continuation trend scenario(trap).

Gbp vs Jpy (4H) - Preferably, I'm looking forward for an opportunity of bullish reversal trend scenario in yellow. A breakout toward the upper yellow trendline would bolster to this scenario. Otherwise, we may see market perform another bearish continuation trend scenario in magenta. Good luck.

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#16,145
Sep 13, 2011 11:59pm Sep 13, 2011 11:59pm

21vs7
Joined Dec 2010 | Status: Foook Bollinger-dr.Kegel knows! | 9,794 Posts

Only buying JPY on my behalf on the crosses. JPY crosses look very much bullish jpy in every perspective. Only long i see now is CHFJPY - but was already rejected for the first time.

AUDJPY short myself. Waiting for EJ to get a signal to short this beauty. It is gonna be a hellova end of this year

Smells like 2007 falls all over again

happy pippin!

#16,146
Sep 14, 2011 7:04am Sep 14, 2011 7:04am

Numa
| Joined Sep 2011 | Status: Trader | 11 Posts

I would wait for a next good time point to open a short order. I just exited a short with a good win, when it goes higher than 121.98 i'll enter again.

#16,147
Sep 14, 2011 8:10pm Sep 14, 2011 8:10pm

Jebatfx
| Commercial User | Joined May 2008 | 2,795 Posts

Favourably, I believe the bearish trend is already exausted. Therefore, I'm looking forward for a potential of either a bullish reversal trend in yellow or a bullish retracement trend in magenta. Otherwise, please be careful since market also have potential to re-test the previous support 118.79. Good luck.

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#16,148
Sep 15, 2011 12:59am Sep 15, 2011 12:59am

TheMoneMaker
| Additional Username | Joined Sep 2011 | 51 Posts

Gbp/Jpy This pair is on daily downtrend, low is at 120.70, a base below would extend 120.30/35 then 120.10/15 and possibly 119.55/60, while retracement at 121.45/50 break is to 122.75/80 then possibly toward 124.20/25

#16,149
Sep 15, 2011 5:18pm Sep 15, 2011 5:18pm

longshot_nl
Joined Jan 2010 | Status: .... | 3,910 Posts

Lets see...

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#16,150
Sep 15, 2011 8:13pm Sep 15, 2011 8:13pm

TheMoneMaker
| Additional Username | Joined Sep 2011 | 51 Posts

Gbp/Jpy This pair is on daily downtrend, retracement at 121.45/50 break is to 122.45/50, above here would change trend direction to target 123.20/25 then possibly 123.95/00

#16,151
Sep 15, 2011 8:58pm Sep 15, 2011 8:58pm

Jebatfx
| Commercial User | Joined May 2008 | 2,795 Posts

At the moment, market just pullback from the R3 critical line. A breakout toward the bearish continuation critical line 1 would favour to the 118.xx scenario (magenta). Otherwise, I'm looking forward for a good opportunity toward a bullish reversal trend scenario either in aqua or yellow. Happy Malaysia Day and good luck.

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#16,152
Sep 15, 2011 9:09pm Sep 15, 2011 9:09pm

nbafx
| Joined Jan 2011 | Status: Trader | 263 Posts

Quoting Jebatfx

Disliked

At the moment, market just pullback from the R3 critical line. A breakout toward the bearish continuation critical line 1 would favour to the 118.xx scenario (magenta). Otherwise, I'm looking forward for a good opportunity toward a bullish reversal trend scenario either in aqua or yellow. Happy Malaysia Day and good luck.

Ignored

hi jebat

which is the usual tf u trade with n 4 analysis?
r u using ew? n plus some other kind of methods 4 analysis?
care to share the methods (so that i can read/understand your analysis).
tq. happy trading.

#16,153
Sep 19, 2011 10:20am Sep 19, 2011 10:20am

longshot_nl
Joined Jan 2010 | Status: .... | 3,910 Posts

the pair is at the bottom of a channel now.

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#16,154
Sep 19, 2011 2:47pm Sep 19, 2011 2:47pm

biDc
| Joined Apr 2011 | Status: Trader | 819 Posts

gbp/jpy down to the 120 level i've been waiting at. let's see if this inside bar will form in the H4.

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#16,155
Sep 20, 2011 12:03am Sep 20, 2011 12:03am

21vs7
Joined Dec 2010 | Status: Foook Bollinger-dr.Kegel knows! | 9,794 Posts

Quoting 21vs7

Disliked

Only buying JPY on my behalf on the crosses. JPY crosses look very much bullish jpy in every perspective. Only long i see now is CHFJPY - but was already rejected for the first time.

AUDJPY short myself. Waiting for EJ to get a signal to short this beauty. It is gonna be a hellova end of this year

Smells like 2007 falls all over again

happy pippin!

Ignored

OK, I was saying that reminds me of 2007-2008 years. Still it is not over. All levels downthere which we are mentioning are bound to happen

thumbs up!

#16,156
Sep 20, 2011 7:21pm Sep 20, 2011 7:21pm

Jebatfx
| Commercial User | Joined May 2008 | 2,795 Posts

Gbp vs Jpy (1H) - At the moment, I believe market will perform another bearish continuation trend scenario either to complete subcorrective wave b in yellow or the incomplete of subwave 5 in magenta before any potential towards a bullish reversal trend senario. A valid "sub-rising wedge" pattern in magenta would bolster to this scenario.

Gbp vs Jpy (4H) - Favourably, I believe market just in progress to complete a "Bear Trap" scenario which is a typical pattern in diagonal triangle reversal indentification. Either we shall see market to further down until 118.xx before a possible reversal or reversal soon is still yet remain to be seen. Good luck.

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