GBP/JPY

short at 152.97. let's market will offer.

added one more short at 152.87. tight stop loss.

On daily chart, QQE is crossed downwards and price is trading below Gann hilo and 50ema, everything points down and my target is 145ish which is the lower TL of this downward channel

http://img10.imageshack.us/img10/3382/oe8.png

Carefully at 147 area, it can push back up.

Yes there is strong support at around 147.60, will need to break to get to 145 area.

looks like a head and shoulders continuation pattern on the daily but we dont have confirmation yet and will need to break the neckline for confirmation

I have canceled my bearish scenario and the target of 140 and 138 in GJ.

my EW analysis tells me that we are turning bullish now. so I will wait 2 hours until daily close. then with a slightly retrace I will long GJ with a very high targets.

this is my view

im still looking at this as a countertrend rally...for me to take notice it wold have to get above and stay above 150.30 and really the 200 ema on the 2 hour chart looks to be serious resistance... we will keep examing as we go,....

cheers

I will long @149.85 and below and targets will be decide later but its high

In my view150.6 has 3 reasons for short. Until we significantly kill this area my view for medium target is still 147.1-147.0, then heavy bounce back up.

I have made a mistake in my previews chart. this is my new counting and plan for next week. I expect to see strength in USD next week.

hi

gbp jpy

butterfly

http://www.fexmarket.com/Analysis/Vi...hnical-Analyze

http://pcmbrokers.org/pcmfileupload/...6556558371.gif

This butterfly is bearish right? If I remember correct....

A lot of resistance here, I expect GJ to fall but it's friday.. who knows

http://img15.imageshack.us/img15/4382/c35t.png

hi all GJ traders,
me too favor in bearish...targeting 149.250 / 148.250...then buy from this area...
is it possible?

GJ has been stuck in a narrow trading range. I suspect we could see a breach above 1.5300 for the short-term. Some 50+ pips above Friday's close

Hi this is my first post in awhile I just wanted to show daily chart with the descending triangle with possible projection of price if it breaks 147.000 area.

Interesting posts with this GJ at the moment looking into different time frames. We seem to be in agreement that a wedge pattern is forming and a break either way is going to happen. The break should be big, we just don't know which way

i have tried different counts on monthly, weekly, and daily using the chapman wave methodology and i keep getting peak C on the monthly, peak C on the weekly and peak B on the daily..the technicals on strong on the daily and monthly time frames....plus it has done a m pattern on the weekly time frame which is strong support at the 148.24 ...imo this is going higher to at least form a peak D at least 156.75 it can go higher but that is the minimum

If it goes up it will most likely be slow and steady. I'm mostly bearish on this pair though, thinking a quick drop is likely.