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GBP/JPY

Quoting pabloski
You mean without fundamental news? Market behaves erratically many times on fundamentals. But the chart tells you the truth, there you have all the action and technical indicators are there to help you see it and predict it.

All is possible. We can go up or down. We have to make sure we are there to catch the move. What I think for the short term is in the post above. What are you expectations?
Everything is possible as long as the market is in confusion nowadays. The USD is endangered, because of the fiscal cliff. Also, the EUR is in a very critical situation. The GBP often goes with the EUR. The JPY problem is only in easing not in the currency itself. So...I guess it can't be predicted where the market is going in December. I guess great changes may take place unless the Republicans in the USA agree with Obama on some smart solutions. What do the indicators tell you?
Quoting gentlelove30
Everything is possible as long as the market is in confusion nowadays. The USD is endangered, because of the fiscal cliff. Also, the EUR is in a very critical situation. The GBP often goes with the EUR. The JPY problem is only in easing not in the currency itself. So...I guess it can't be predicted where the market is going in December. I guess great changes may take place unless the Republicans in the USA agree with Obama on some smart solutions. What do the indicators tell you?
===================================================================
What I have recently read is as follows:

Scenario for the week
Elliott: impulse wave up 133.04
It is a triangle configuration . Market should break either side. Acceleration should occur above 132.92 or under 131.56 limits.
Warning: End of trend
Reference:
http://www.rtfx.com/forex-analysis/t...2.2012/weekly/
http://i1356.photobucket.com/albums/...ps1e51c300.jpg

I'm still long targeting higher levels.
It works till it doesn't
Aside from all the technical for G/J....
Bait for north
- Election and LDP (JPY)
- BOJ further easing monetary policy (JPY)


Bait for south
- fiscal cliff (USD)
- Negative surprise on election (JPY)
- Too much Yen short on IMM (USD/JPY)
- Euro crisis once again on fire(GBP/USD/JPY)

anything else?
Quoting forex_J
Aside from all the technical for G/J....
Bait for north
- Election and LDP (JPY)
- BOJ further easing monetary policy (JPY)


Bait for south
- fiscal cliff (USD)
- Negative surprise on election (JPY)
- Too much Yen short on IMM (USD/JPY)
- Euro crisis once again on fire(GBP/USD/JPY)

anything else?
I totally agree with you. I feel that it will remain fluctuating for some time before going north or south based on some reasons.
Quoting pabloski
Did some good pips selling after NFP spike. Went back almost to pre-news level and then started recovering again for the close. 131.60 area is acting as a good support, so after Fridays behaviour I'm inclined to think the pair will touch 132.80 again soon. This is a critical area, so if the pair keeps it's ranging mode is a good opportunity to sell again but I must be careful as I'm expecting a break sooner or later. 4H chart shows some nice signs of bullishness. To favour the downside, I think we should see a break of 131.60 support. Hope next...
So after a retest of 131.60 support, we are again approaching the 132.80 resistance. Great place to book profits and sell again if it holds. I still need a break and more upside pressure to think about buying again.
Short @ 132.88
SL @ 133.00
TP @ 132.40, 132.00, 131.60

Let's see how it works...
133. Usually slow but dangerous time when it's moving. It can be one side all the way till the session closes.
Quoting forex_J
133. Usually slow but dangerous time when it's moving. It can be one side all the way till the session closes.
I been in since 130.80 2 weeks ago cant really see any major down moves till the elections are flushed out. I wouldn't advice shorting unless its for quick scalps.
It works till it doesn't
Quoting DaEdge
I been in since 130.80 2 weeks ago cant really see any major down moves till the elections are flushed out. I wouldn't advice shorting unless its for quick scalps.
I actually had a short at 133.04 . It's just a very silly and simple reason using Fibonacci. The bottom on Monday as 0% and the sideline of yesterday as 50% and high of several minutes ago as 100%. I know this sounds silly but sometimes it works Won't probably last long though.
Quoting forex_J
I actually had a short at 133.04 . It's just a very silly and simple reason using Fibonacci. The bottom on Monday as 0% and the sideline of yesterday as 50% and high of several minutes ago as 100%. I know this sounds silly but sometimes it works Won't probably last long though.
S 133,05 me to bro
Let's see what happens...
Holy shit. My short is on fire! Still planning to add more around 133.5-8 for 129.8 We are getting close to this year's high now.
Quoting forex_J
Holy shit. My short is on fire! Still planning to add more around 133.5-8 for 129.8 We are getting close to this year's high now.

yeah and im making another S right now ;/
hope it will last longer! than previous Short
Even my short is on fire.... But still holding for 129.xx level....
Success is a journey not a destination...!!
Attached Image (click to enlarge)
Click to Enlarge Name: gj 0001 - 12.gif Size: 22 KB

Can we expect correction from this level ??
I am adding another short here with a stop at 1.3380... Nice pattern with bearish divergence...
Success is a journey not a destination...!!
Quoting Rana
Even my short is on fire.... But still holding for 129.xx level....
129.xx will not come this year unless bernanke says unlimited QE
Quoting Nachiket
129.xx will not come this year unless bernanke says unlimited QE
Even if he does these yen crosses still might not stop until after the elections are out of the way & depending on the winner it might take longer. There's also been a hint to more easing in the news this week. So many retailers are shorting these crosses against the momentum don't understand why. Easier trade is to go with the order flow.
It works till it doesn't
Quoting Nachiket
129.xx will not come this year unless bernanke says unlimited QE
Thanks for your advice...
Success is a journey not a destination...!!
For 48 hrs not even the very first support line on 15M level hasn't been broken and now we are almost there for new high of the year. Still, planning another short. Call me crazy if you want
Congrats on new high and added another short but just half of initially planned. n/j is also looking interesting and almost there to break high of 2009. Just had a short on that too
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