Geppy's Geppy Thread (GBP/JPY)

Our friend geppy is banging her head against a very strong resistance 156.75. Conditions have been very volatile recently and the overbought conditions call for treading with caution at these levels. There is a support at 154.25 worth keeping an eye on and the next one of significance seems to sit pretty at 152.75 (a previous high).

Starting to run into resistance now. If 157/157.3 goes, next would be around 157.7. I suspect that will hold.

GU looks to have maybe completed and UJ may have another few pips to go on this present move.

In a range. Will let pa tell me what she wants. Look for rb. Finger on the trigger for scalp. Uncharted terr. Pretty exiting ehhh. Hh's

From where im sittin at i see another bull flag. How many pips will it produce? The days of 153.6 are toast. I think bob knarley said it will go higher... i agree.

Wondering why geppy isnt posting any longer?

Hey dudes

Well this pair has just smashed through my strongest resistance level on my charts. As i'm solely working off the 4HR and Daily charts nowadays, a 4HR close above 157 would be enough for me to buy more and a daily close above 157 is something I would ideally be looking for.

Last week I was almost certain that 156 would hold and we would expect a wavy ride back down to 152ish but that concept no longer exists IMO at least not until we have tested 163 now. Even then, I would say 167 is still within range of being touched if we get through 163.

TBH, I personally can't see a major drop anymore, including these gaps that have occurred over the last two weeks, not atleast until the resistance at 163-167 hold up. Even then, it won't be a sudden drop IMO it will be a rough one. Based on my technical analysis only.

Good supply doesnt look to be until 158.50 should hold as a good long

I think she retrest first fibnachi channel. added short 158.16.

no body know but it could be happen coz my own tp 154.65. now range GJ 300-400 still posibble.good luck

It would be wonderful to see a pullback to that level this week.

Seems like a lot of newcomers posting on this thread lately, which I think is good. Welcome guys!

I'd like to remind everyone that I've been bullish on Geppy for the last three weeks, since around the 150 level (and technically before that, since 140, but I guess that doesn't count anymore), and G/J has crushed my target of 156.00 and my own expectations. This has been one hell of a move, but I'm not that surprised to see it because I knew they'd want to do it quickly.

I'm actually disappointed with how I traded this move cuz I left a lot of pips on the table by focusing too much on the short-term! Even though I called the moves out! Bleehhhhhh!

But, my views from here are probably most aligned with EatPips, and no offense, but I do not understand the people who keep on adding to their shorts as price moves up, or expect a quick flush down to the lower 150's... because I just don't see that happening.

I can assure you that while everything looks overbought, that doesn't mean it can't push higher still. I even said yesterday (or was it the day before?) this same thing at 156, that it can still go higher, and look where we are now (high 157's).

I am curious though, Mpt, as to how you found the 157.70/80 resistance? I've looked back on my charts from Daily - Monthly and I can't find any prior resistance there -- only around 163. I'm curious because that resistance is holding perfectly as of now... but we all know how quickly that could change and I expect that it might... But I'm still curious how you got that? A chart would be helpful if it's not too much work.

Hello GPY/JPY

Never traded this pair

What would be a good place to enter this pair

I was thinking pending orders short

It nearly hit 158 would 159 or 160 to go short.

Any ideas,as YEN moves a lot.:nerd:

.
dang good detective work there, Mpt....I love keeping track of gaps.....you take the cake for that one ...most charts don't go back but to 97...
I'm all happy today....doubled all the accounts in four days...just luck, finally took profit on the GBP/JPY, I couldn't stand looking at it just sitting there all daayyy
. My buddy Ian in Sinapore last night posted the USD/JPY has a higher target now since the drop to 98.52 on the 7th....so more to the upside....he has the us/yen targets blogged if you want to see....upmoves....with his definite pullbacks derived by harmonic elliott wave analysis
.......IAN COPSEY in Singapore...

What's your take on the relatively low volume we are seeing? Seems pretty low for a Monday and Tuesday compared to history on this chart.

Hey, ezeko...the big boys take August and September off....this September. may see a start-up around the 24th ......~~~~eta...I just noticed the dates...they started early this year....started in July on the 24th.....HA......this September date is the FOMC or some such....I forget what.....

First of all, anyone who has never traded this pair before should probably stop and go trade the Euro. It's much easier. This pair is as tough as it gets.

I rarely pay attention to volume. Price can move whichever way it wants to whether there is high volume or low volume, so it is more important -- in my opinion -- to look at price action. For instance, one could observe how price holds up at key support and resistance levels... and the pace at which it moves.

158.00 has served as resistance all day and if and when it breaks, that level should become solid support. I do not have any upside targets yet, but I am expecting a test AND clean break of 158 so I'll keep a close eye on the trade. As of now I would say between 158 and 159 is probably a good target to close longs... and MAYBE go short... but you must always take my advice with a grain of salt

PS: Low volume usually means that big moves can happen suddenly or unexpectedly. So just take that into consideration; it would be easy for G/J to keep climbing higher in a low-volume environment. You could theoretically say the same thing about the downside... except we've been going up, not down.

IMO if 158 is broken, 159 WILL be tested today. 9:30am GMT will show some sketchy move but again IMO for all those shorting this pair, wait until it's peaked out in the 160s

i have on the weekly E/A the count may have recycled but i like to be conservative yet so you cant rule out E...monthly we just started leg D and on the daily its a nice leg C...SHOULD be interesting....im expecting probably a pullback pretty soon here of some significance i guess the bottom line...

cheers

travis

how about bond of BOJ??? anyone talk???