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GBP/JPY

  • #421
  • Nov 2, 2012 3:28am Nov 2, 2012 3:28am
Quoting IndigoPingvi
This is one of my 3 charts (screenshot). I don't use any indicators except EMAs.
Thanks, clean and simple charts,


I was long usd jpy closed last night with profit.i was satisfied with my income.
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #422
  • Nov 2, 2012 3:29am Nov 2, 2012 3:29am
Quoting Zircon
Hard to say where is heading both side are nervous, you know what i mean
The only thing I can say is that GU is bearish, from my point of view. And UJ is about to run into its TL that's held it since 2009.

History is not with the bears .............BUT?????????????
  • #423
  • Nov 2, 2012 3:33am Nov 2, 2012 3:33am
Quoting Mpt
The only thing I can say is that GU is bearish, from my point of view. And UJ is about to run into its TL that's held it since 2009.

History is not with the bears .............BUT?????????????
u mean G/jpy bearish?
If skills could be acquired by watching, every dog would be a butcher. Turk
  • #424
  • Nov 2, 2012 5:44am Nov 2, 2012 5:44am
What a spike we have. More North movement?
  • #425
  • Nov 2, 2012 5:49am Nov 2, 2012 5:49am
Quoting FxLapozi
What a spike we have. More North movement?
Not really big spike actually, GBPJPY can have 170 pip spike on NFP... I would say it will go up now, but it does seem a lot of resistance at 129,6 area. Time will tell...

PS, today we only traveled 58 pips while daily range is around 100 pips. Sooo... it is going to go somewhere!
  • #426
  • Nov 2, 2012 6:07am Nov 2, 2012 6:07am
OK, the trend line's intact. Can we go down now? Please?
  • #427
  • Nov 2, 2012 9:22am Nov 2, 2012 9:22am
heading south from here to the 128 mark..
  • #428
  • Nov 3, 2012 1:28am Nov 3, 2012 1:28am
You just can't teach this.
Perfect Sell?

zoom in for appreciation.
Attached Image (click to enlarge)
Click to Enlarge Name: forex factory 1.png Size: 15 KB
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #429
  • Nov 3, 2012 5:34am Nov 3, 2012 5:34am
Agreed all indicators point south!
  • #430
  • Nov 3, 2012 6:01am Nov 3, 2012 6:01am
I disagree. We finaly touched/tested 20 EMA on 4H chart. No significant price action for south trend yet.
  • #431
  • Nov 3, 2012 6:19am Nov 3, 2012 6:19am
Quoting mrroboto
Agreed all indicators point south!
There is now extreme bearish divergence on most TFs coming in. All indicators DO NOT point south ... yet. With the exception of bearish divergence, indicators remain 50:50.

But history remains on the bearish side.

Attached Image (click to enlarge)
Click to Enlarge Name: gj1.jpg Size: 61 KB


UJ broke its descending TL, but closed just under it. GU, well ... as the saying goes, it's never too late to sell the pound. And it looks bearish anyway.

Price struggled to break the 127.8 TL in purple (61.8 retracement level). The orange TL shown dates back to about 1995. It's had a significant influence on GJ since that time. Price has closed just below that line. And lastly, the well known descending TL (blue) held at NFP and stopped just below the double top.

Price is compressing within these three constaints. Heavily. Somethings gunna break violently. I do not vote for a move up.

Attached Image (click to enlarge)
Click to Enlarge Name: gj.jpg Size: 76 KB
  • #432
  • Nov 3, 2012 6:31am Nov 3, 2012 6:31am
I consider 127 a major pivot zone. 2 weeks ago we crosed it and closed above it, last week we tested it and closed higher. I am not bearish until this pivot holds.

I do agree with the burst idea! Whichever way it will go could be violent.
Attached Image (click to enlarge)
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  • #433
  • Nov 3, 2012 6:45am Nov 3, 2012 6:45am
Quoting IndigoPingvi
I consider 127 a major pivot zone. 2 weeks ago we crosed it and closed above it, last week we tested it and closed higher. I am not bearish until this pivot holds.

I do agree with the burst idea! Whichever way it will go could be violent.

In another way, that's what I am saying. Price pushes up through these resistance levels but at some stage it can't take any more pushing.

It's getting tired. That's why there's such bearish divergence. At this time only a major event like an intervention/significant news event would result in a upmove.

Any such move would probably have to come from the Yen. Apart from the move over the ORANGE line in March, the two previous times were caused by .... interventions.

I don't give a damn if it goes up or not. I won't take a sizeable position until I see where it's going.
  • #434
  • Nov 3, 2012 6:49am Nov 3, 2012 6:49am
One last comment before bed. I appreciate the differing intelligent view and analysis. It's a whole lot better than just "buy" or "sell" .
  • #435
  • Nov 3, 2012 7:19am Nov 3, 2012 7:19am
Quoting Mpt
One last comment before bed. I appreciate the differing intelligent view and analysis. It's a whole lot better than just "buy" or "sell" .
  • #436
  • Nov 3, 2012 2:40pm Nov 3, 2012 2:40pm
Quoting england33
You just can't teach this.
Perfect Sell?

zoom in for appreciation.

very nice!!! so where is the prefect sell?
  • #437
  • Nov 3, 2012 9:02pm Nov 3, 2012 9:02pm
Quoting jphotdeals
very nice!!! so where is the prefect sell?
you can't see in the chart? :nerd:
Before Forex I was tall, and clean shaven. Now I am an Ewok.
  • #438
  • Nov 4, 2012 2:21am Nov 4, 2012 2:21am
Mpt, would you please explain to us significance of the Yen index in connection to intervention?
  • #439
  • Nov 4, 2012 4:34am Nov 4, 2012 4:34am
Quoting IndigoPingvi
Mpt, would you please explain to us significance of the Yen index in connection to intervention?
Ha, the $1000000000000000000000 question.

All I can do is refer you to

http://www.boj.or.jp/en/statistics/m...ily/index.htm/

which is updated daily. The yen index is at the bottom of the page for each specific day. Don't forget the Yen index is compiled against a basket of currencies. No one knows what their trigger is, but in the past it's been below 121.
  • #440
  • Nov 4, 2012 5:39am Nov 4, 2012 5:39am
Cool information, thanks a milion.
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