Daily GBP/JPY analysis

I take your word!

Maybe. This is either the start of a move up to there, or the retracement is coming earlier than we thought. It has to clear 144.4 again to confirm an up move

ya i guess we will find out prolly this week....

The sudden change of rhetoric out of japan is not helping either

http://www.forexlive.com/blog/2013/0...n-livelihoods/

On the hourly chart I see a head and two shoulders, probability further consolidation before it rallies

Well, if it can't get back over about 143 you could be right. Otherwise, there are other formations it could be in (mostly bullish in the end)

lol if he didn't open his mouth, we would have been up there by now...

We have RSI divergence upwards, but a downward cross of the moving averages. My bet would be down considering the heavy resistance. This is despite the apparent double bottom and RSI divergence.
Anybody?

I am leaning toward a return to up for a retest of previous high before deciding if rally is over. It is starting to drift out of channel. If it closes below 139.37, then I think we are in for long ride down.

Fantastic sell point here. The resistance is holding and the market upswing has lost strength. Target a short take profit of 140.80 from the current 141.88. Just my 2 cents.

Nice poing to go down, I'm selling eur/jpy too...

Got out at 141.44. It's not worth keeping in the short at this time.

At the moment, I am looking toward a potential of bullish continuation trend scenario to complete subcorrective wave a,b and c either refering to the alt count in yellow (HNS) or white (double top). Otherwise, we may see another bullish rally in aqua. Good luck.

Have a buy trade on this pair.. have to look at it how it goes

http://spartan-trader.blogspot.in/

At the moment, I am looking toward a potential of bullish retracement trend scenario to perform a subwave ii before another bearish continuation trend scenario to complete major wave 4 refering to the alt count in yellow. Please monitor closely aqua and yellow critical line for further confirmation. Good luck.

Purely for amusement value, here's a post on this forum from March 2012. In fact it was a re-hash of an earlier post dating back to mid 2011. A lot has happened since then. We hit the 133 target area, but had a MUCH deeper retrace than expected.

In essence, it was anticipated that the E wave would contain 3 waves and not 5. And then the moves around 129 in November 2012 made it look as if the original idea was wrong. To the point of total stupidity.

As I said, a post for old times sake and a little bit of fun. And who the heck knows whether the last bit of the post will be right.





http://www.forexfactory.com/showthre...60#post5485660

Sold gbpjpy

At the moment, I am looking toward a potential of bearish retracement trend scenario to perform major wave 4 in white. A breakout to the lower red trendline and bearish continuation critical line 1 would bolster to this scenario. Otherwise, I believe market may in progress to complete major wave 5 in yellow. Good luck.

all your posts are spot-on....men....I swear...ya know, in the old days no one was this accurate....MPT.....10-4 on that "e" wave we think alike.
LT targets...anyone??.....rex has 314.xx