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Geppy's Geppy Thread (GBP/JPY)

  • #9,541
  • Nov 21, 2013 5:59pm Nov 21, 2013 5:59pm
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  • #9,542
  • Nov 21, 2013 6:06pm Nov 21, 2013 6:06pm
Quoting Mpt
{quote} Yeah, and from various comments I've got recently, there's a few more than we've aware of who just watch. If it holds here, then I suspect it will drop back to 163. The question will then be whether any bounce from 163 would go to new highs, or stop again at 164
Would be nice to see it clear the complete 160s price again after so long but I'm still backing my shorts.
To live a successful life, we must lose our fear of being wrong
  • #9,543
  • Nov 21, 2013 6:10pm Nov 21, 2013 6:10pm
Quoting EatPIPs
{quote} Would be nice to see it clear the complete 160s price again after so long but I'm still backing my shorts.
is 164 holding?
Don't give up
  • #9,544
  • Edited 6:31pm Nov 21, 2013 6:13pm | Edited 6:31pm
this pair is dangerous for me even with 5 % margin..
this is the segment of move from my understanding.
projection unknown
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14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #9,545
  • Nov 21, 2013 6:16pm Nov 21, 2013 6:16pm
Kuroda: Currently does not see a bubble in asset markets

  1. Yen has corrected from excessive strength
  2. Don't think yen is excessively weak or in a bubble
  3. Monetary policy is aimed at price stability
  4. Domestic demand firm and overseas demand increasing
  5. Monetary policy can have an effect on FX and stocks

  • #9,546
  • Nov 21, 2013 6:33pm Nov 21, 2013 6:33pm
seems don't wanna fall at all.........
Don't give up
  • #9,547
  • Nov 21, 2013 6:33pm Nov 21, 2013 6:33pm
Quoting fatpanda
TP at “hello” with 520 pips now short “hello” to 155.00
  • #9,548
  • Nov 21, 2013 6:43pm Nov 21, 2013 6:43pm
Quoting fatpanda
{quote}
im wid u praying
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #9,549
  • Nov 21, 2013 6:51pm Nov 21, 2013 6:51pm
Quoting geomink
seems don't wanna fall at all.........
No, but it's having a hard time.
  • #9,550
  • Nov 21, 2013 6:59pm Nov 21, 2013 6:59pm
Quoting Mpt
{quote} No, but it's having a hard time.
at least hope not making triplle..will burst to 17x if it did
14QDuJtV7okxhBzC86FwawaR6tV5LvetLq
  • #9,551
  • Nov 21, 2013 7:01pm Nov 21, 2013 7:01pm
At some point, everyone should look for a place to get long...since thr former high has been taken out.
  • #9,552
  • Nov 21, 2013 7:02pm Nov 21, 2013 7:02pm
Just to tell you all we have 80% of people who are shorting this pair in 161-162 zone and due to this the price has gone up to 163-164 level now to kick off retailers from this short trade. The market makers want to create fear in the minds of the retailers so that they close their position so that the price can retrace back to 158 level. Did you see that retrace among other jpy pair is working and at least 50 pips retrace is happening, but in case of gbp/jpy, even a 10-15 pip move below is hardly happening.. not sure what is holding this pair up so high without a small drop. i am short as well and i think i made a mistake..
  • #9,553
  • Nov 21, 2013 7:48pm Nov 21, 2013 7:48pm
nikkei still go upward
  • #9,554
  • Nov 21, 2013 7:54pm Nov 21, 2013 7:54pm
It sits stuck between support areas and resistance. There is more resistance at 164.2/3

I'll post this chart/graphic again.



Attached Image (click to enlarge)
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Essentially, if it gets up over about 164.3 or so and holds for more a day, then 164 becomes support.

And, as scary as it sounds, it may then never get back much below 164.

164 would not be the top, it would be the bottom.
  • #9,555
  • Nov 21, 2013 7:59pm Nov 21, 2013 7:59pm
On a more positive note, if it can get below about 159, there's not much support below until maybe 156/155/147 etc.
  • #9,556
  • Nov 21, 2013 8:03pm Nov 21, 2013 8:03pm
bottom line is if GBP/JPY has to fall it has to come through intervention from BOJ. there is no fucking power in this world other than BOJ which can bring it down
  • #9,557
  • Nov 21, 2013 8:05pm Nov 21, 2013 8:05pm
according to me their import bill is rising. that is why you heard those comments from amari and kuroda. so they will try to talk down yen weakness. thought there was an intervention when it fell to 101.08 but then realized that there was 1 billion dollar option expiry today at 101 strike.
  • #9,558
  • Nov 21, 2013 8:09pm Nov 21, 2013 8:09pm
Quoting Mpt
It sits stuck between support areas and resistance. There is more resistance at 164.2/3 I'll post this chart/graphic again. {image} Essentially, if it gets up over about 164.3 or so and holds for more a day, then 164 becomes support. And, as scary as it sounds, it may then never get back much below 164. 164 would not be the top, it would be the bottom.
I dont think so if we look at nikkei. she will make double top and then down to retrace 14750 (next bottom) before going further upward....
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  • #9,559
  • Nov 21, 2013 8:09pm Nov 21, 2013 8:09pm
Quoting Gbp/jpy
At some point, everyone should look for a place to get long...since thr former high has been taken out.

yes and you want to get screwed by taking a long at 164 and getting stopped out at 160. lets face it. no one knows a fuck as to when these bastards will intervene and when not. this gbp/jpy rally of 300 pips makes no sense to me.
  • #9,560
  • Nov 21, 2013 8:15pm Nov 21, 2013 8:15pm
@giveachance, I do not understand why you mentioned that BOJ will intervene to strengthen Yen? We have already seen BOJ intervening when usd/jpy was trading at 75 level last in 2012/2011. That is because they thought the currency was too strong at that time and it was not helping the economy. But, scenario now is different. The yen is not strong and not weak too.. If you see the fall from 250, we still have room to go to 170. So, I don't think they will intervene to weaken the yen, i see no point.
Anyway, i am short this pair gbp/jpy at 162 level and i am under water for now..
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