GBP/JPY

down trend
i think that
coming soon 122

I expect more side ways at the moment.

I thought this was a GJ thread. Maybe I was mistaken.

It is, why are you hesitating?

what are your charts?? this is not GBJ/JPY!!!

I guess he is also confused by DE123's charts. these are not gj

Maybe I'm just that sort of guy.

Could possibly be in the process of bottoming out now as last wave (C) of wave 4 in a 3x3 expanding triangle.

Wave 4 moved into wave 1 territory, so, if confirmed, it would be a classic 3x3 five wave triangle. If 125.3 or so is the bottom, wave 5 should equal wave 1 length, being about 470 pips, with wave 5 target around 130.1.

(Top of channel).

Price hit 20 EMA on Weekly, shoul act as support.

One small point to consider re my possible bullish view chart. Price needs to gain a foothold above 125.8 or so to continue any up move. Otherwise, the down move will resume.

There were times when interest rates in GBP and JPY were at levels that gave lots of +swaps ))) miss that times

I wonder if it is broker related, on Oanda I get negative swap for long, on fxpro I get positive

The current pattern appears to me to be one of continuation down. 124.4 absolutely HAS to hold to allow for any bullish reversal. Otherwise, it's probably going down a long way.

A bit like this:




Should it break, 124.4 becomes new resistance.

If 124.4 holds (being possible C wave length = A wave length [345 pips] in an expanding triangle, then GJ goes up.

Very much line in the sand sort of stuff.

My last chart for a while (promise). In the interests of fairness, a possible bullish view.

went short on gbp/jpy 126.580. looking to TP at 126.10

Good luck, I hope you will get BE. But this looks very bullish to me... 125.5 is finally behind, price came down twice to test it, now climbing. I would say we still have about 250 pips ahead, don't know, not in straight line I guess...

was thinking in may have been a bit early and was right, so doubled my short 127.295

here is what i see

let's see. may have topped for day. long term trend still up though.

Probably we'll not cross today 127.3, i agree with bullish view, this week i expect one or both of those arrows...There is a talk again about intervention...