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Geppy's Geppy Thread (GBP/JPY)

  • #10,381
  • Jan 25, 2014 7:55pm Jan 25, 2014 7:55pm
Quoting Temujin
175 seems like a stretch MPT even though the BOJ is still the midst of an extremely aggressive easing program. We'll get some hints on the sentiment tomorrow with BOJ meeting. 1/3 of the analysts say new measures in April but with these fears going on if we don't hear some really strong language from the BOJ down it goes. Jaw boning is going to be ignored at this point. The U.S. data too, it simply must not keep coming in crappy. 5 years on these programs and trillions of USD pumped into the banks and we have data like this still? The costs are...
A stretch or not, all I can do is offer support and resistance levels. I think I do that reasonably accurately sometimes, but direction is something that no one can pick - until it confirms. That's why I always laugh (to myself) about all these traders who make blanket statement that a pair is DEFINITELY bullish or bearish and become married to a particular bias - but I guess we've been there and done that.

At the moment direction is a tad dubious, but next week should answer many questions. A break up or down would make life a whole less complicated. Look out for 167.1.

Have a good weekend.
  • #10,382
  • Edited Jan 26, 2014 12:47am Jan 25, 2014 10:38pm | Edited Jan 26, 2014 12:47am
Quoting Temujin
I guess what I'm saying is with the right recipe of factors in play this emerging market thing can become uncontainable and this market can roll over into a full on bear market.
There's an expression in the English (non- US) world that says "yesterdays news is tomorrow's fish and chip wrapping".
  • #10,383
  • Edited 5:38am Jan 26, 2014 5:25am | Edited 5:38am
I got these Price Levels confirmed for next week:

171.60/40
169.80/60
168.20/00

This might be crucial decision points.

If 168.20/00 holds as support we might see 171.60/40 again before continuation to 166.60/40
If 168.20/00 holds as support we might see 171.60/40, if 171.60/40 holds as support we might see new highs @ 173.30/10 & above

Pic 1: Chart
Pic 2: Stats/Confirmation

Good Luck
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Stat.png Size: 120 KB
  • #10,384
  • Jan 26, 2014 9:06am Jan 26, 2014 9:06am
Quoting Mpt
{quote} There's an expression in the English (non- US) world that says "yesterdays news is tomorrow's fish and chip wrapping".

Touche'! Very good indeed old chap! Germany is adjusting growth higher, England is all good. The Euro zone is nearly the same with no immediate concerns. Chinese credit and growth is the concern here. Central banks also have weapons against deflation that were not in effect in 2008. Go BOJ!!
Be humble or be humbled.
  • #10,385
  • Jan 26, 2014 9:09am Jan 26, 2014 9:09am
Quoting FX-Ray
I got these Price Levels confirmed for next week: 171.60/40 169.80/60 168.20/00 This might be crucial decision points. If 168.20/00 holds as support we might see 171.60/40 again before continuation to 166.60/40 If 168.20/00 holds as support we might see 171.60/40, if 171.60/40 holds as support we might see new highs @ 173.30/10 & above Pic 1: Chart Pic 2: Stats/Confirmation Good Luck {image} {image}

Looks very likely FX Ray because volatility is going to increase from here. I'm cheering for 171.60.
Be humble or be humbled.
  • #10,386
  • Jan 26, 2014 9:28am Jan 26, 2014 9:28am
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  • #10,387
  • Jan 26, 2014 10:23am Jan 26, 2014 10:23am
well my 2 cents is that this could be the of the year yen..as big investors will go to more safe haven assets and ditch risk.....if the gbpjpy breaks 168 watch out its extrmely overbought.
  • #10,388
  • Jan 26, 2014 12:11pm Jan 26, 2014 12:11pm
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  • #10,389
  • Jan 26, 2014 1:10pm Jan 26, 2014 1:10pm
Quoting Dano12
{image}

sorry im sure you know what all those squiggles are but the chart looks messy and cant really tell what all that means...

warmest regards,

travis
  • #10,390
  • Jan 26, 2014 2:14pm Jan 26, 2014 2:14pm
wow. geppy giveth and geppy taketh. Feels like I just caught a falling chainsaw. this hurts.
  • #10,391
  • Jan 26, 2014 2:56pm Jan 26, 2014 2:56pm
Head and shoulders has formed on the Beast:

Attached Image (click to enlarge)
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  • #10,392
  • Jan 26, 2014 6:01pm Jan 26, 2014 6:01pm
Quoting Jason W
Head and shoulders has formed on the Beast: {image}
I see it Jason W. I put up the chart on my thread sometime ago. The downside implications if it plays out are huge
Attached Image (click to enlarge)
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If you think you can or cannot do it you are correct
  • #10,393
  • Edited 6:18pm Jan 26, 2014 6:07pm | Edited 6:18pm
Yes, if it plays out exactly, that is, declines from the break of the neckline the same amount as from the top of the head to the neckline, we'd be looking at about 600 pips. A shitload. As such, I will be watching the beast with great interest and looking for good quality short opportunities.
  • #10,394
  • Jan 26, 2014 6:32pm Jan 26, 2014 6:32pm
The 7 pm New York short term signal said sell.....
  • #10,395
  • Jan 26, 2014 8:17pm Jan 26, 2014 8:17pm
I think we will have one more big drop to 163.50 to retest this level before uptrend resumes to 180 and higher.
  • #10,396
  • Jan 26, 2014 11:47pm Jan 26, 2014 11:47pm
Quoting FX-Ray
I got these Price Levels confirmed for next week: 171.60/40 169.80/60 168.20/00 This might be crucial decision points. If 168.20/00 holds as support we might see 171.60/40 again before continuation to 166.60/40 If 168.20/00 holds as support we might see 171.60/40, if 171.60/40 holds as support we might see new highs @ 173.30/10 & above Pic 1: Chart Pic 2: Stats/Confirmation Good Luck {image} {image}
Filled at first target @ 169.60
  • #10,397
  • Jan 26, 2014 11:50pm Jan 26, 2014 11:50pm
Looking to go long on this pair today. Need a small pullback to around 16,893, and then I'm expecting to set a TP once long at 171.20 which is the H1 200ema as it stands right now, and R1 pivot point.
  • #10,398
  • Jan 27, 2014 12:05am Jan 27, 2014 12:05am
Quoting cat
Looking to go long on this pair today. Need a small pullback to around 16,893, and then I'm expecting to set a TP once long at 171.20 which is the H1 200ema as it stands right now, and R1 pivot point.

Dont you think you are a bit late in counter trading this pair?
Online Prop Firms are not the solution
  • #10,399
  • Edited 1:11am Jan 27, 2014 12:14am | Edited 1:11am
Market sell at 169.66
Be humble or be humbled.
  • #10,400
  • Jan 27, 2014 12:19am Jan 27, 2014 12:19am
Quoting Temujin
Market sell at 169.66
Well done, probably gonna test 168.20/00 before a break of 169.80/60
-or-
or it even break 168.20/00 for continuation.

(Didnt think some1 will listen )

Add: Seems like an engulfing, odds are good
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