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Geppy's Geppy Thread (GBP/JPY)

  • #11,281
  • Feb 28, 2014 3:45am Feb 28, 2014 3:45am
Quoting Noob Trader
It keeps making lower high, with somehow manages to stay away from fall due to extra bullishness in GBP. Lets see how long it can manage to stay away from low. Holding shorts as of now. would cover small qty around 169.50 as range suggested by Ray.
Its called a rounding top

It s just a form of price compression. Sometimes it breaks down heavily, sometimes it breaks up the same way
  • #11,282
  • Feb 28, 2014 3:51am Feb 28, 2014 3:51am
FXSpider: India Times
Asian shares gain in volatile trade; yen ascends
The fear factor helped the yen rise against the dollar and euro on its traditional safe-haven appeal as tensions mounted in Ukraine.
Original story // India Times // 10 min ago
Everything easy was hard at first
  • #11,283
  • Feb 28, 2014 4:01am Feb 28, 2014 4:01am
Quoting FX-Ray
170.10/69.90 still holding; next decision point 170.80/60
There we go
  • #11,284
  • Edited 4:15am Feb 28, 2014 4:02am | Edited 4:15am
Is Draghi shaking his junk around again? EJ just spiked like 100+ pips in about 15 seconds. But UJ is still stuck by 101.80 area.
  • #11,285
  • Feb 28, 2014 4:15am Feb 28, 2014 4:15am
Quoting FX-Ray
{quote} There we go
Patience is the name of the game......I've been trading the **00 to **25 level since FO, and holding another position which I have just closed at the MR2 level of 170.62 as I now have to go out.....back for NY and thanks for your levels
Trading Levels with WRBs
  • #11,286
  • Feb 28, 2014 4:17am Feb 28, 2014 4:17am
Quoting Islander
{quote} Patience is the name of the game......I've been trading the **00 to **25 level since FO, and holding another position which I have just closed at the MR2 level of 170.62 as I now have to go out.....back for NY and thanks for your levels
You´re welcome
  • #11,287
  • Feb 28, 2014 4:22am Feb 28, 2014 4:22am
Quoting Kismet180
Is Draghi shaking his junk around again? EJ just spiked like 100+ pips in about 15 seconds. But UJ is still stuck by 101.80 area.
EZ CPI Flash came out at 0.8% vs 0.7% expected so € +62 pips in the 11:00 gmt bar....
Trading Levels with WRBs
  • #11,288
  • Feb 28, 2014 4:44am Feb 28, 2014 4:44am
Quoting Islander
{quote} EZ CPI Flash came out at 0.8% vs 0.7% expected so € +62 pips in the 11:00 gmt bar....

Last time I saw EJ do this Draghi was saying a whole lot of nothing and all the economists and policymakers were swooning. Amazingly, in a minute that move pulled me out of an underwater EJ long I was planning to just hold until next spring when the euro had a chance to thaw out some.
  • #11,289
  • Edited 6:21am Feb 28, 2014 5:29am | Edited 6:21am
Slowly, very slowly

A break over 170.65 goes to 171.2 next though
Attached Image (click to enlarge)
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  • #11,290
  • Feb 28, 2014 5:49am Feb 28, 2014 5:49am
Quoting FX-Ray
{quote} There you go (weekly). All above support. As long as E/J is able to stay above 139.35/10 and U/J above 101.50/45 I prefer long trades. I prefer shorts above 170.80/60 but still aiming 172.20/00 because it caught my attention for days, serious money exchanged there.. there are still shorts, much liquidity. {image}
Anyone caught long from 139.35/10 ? current 140.53 (E/J)
  • #11,291
  • Edited 6:48am Feb 28, 2014 6:01am | Edited 6:48am
Quoting FX-Ray
{quote} Anyone caught long from 139.35/10 ? current 140.53 (E/J)
I grabbed a couple EJs at around 139.5 to keep my others company. I thought I was going to be rocking these suckers until April before someone would want to take them off my hands for what they are worth to me... I figured it would not hurt to move my overall position down in case EJ made a run north, but I didn't see this coming. I am still holding them and looking to close at 141. Here is hoping US data doesn't muck everything up. I have low hopes in March for the yen crosses, especially at the start of the month. I think GJ could break 171 today, but not sure how far it will go towards 172+. Thoughts?

Adding: Apparently there are some very wealthy sellers in EJ and ED and they are buying up all they can get their hands on. Buying EJ at 140.70ish like it is the last carton of cigarettes at CVS, and ED is getting gorped up at around 1.38050. Wondering how long it will take to relieve them of their money before EJ & ED begin travelling again.
  • #11,292
  • Feb 28, 2014 6:19am Feb 28, 2014 6:19am
Quoting FX-Ray
{quote} Anyone caught long from 139.35/10 ? current 140.53 (E/J)
Hey! I did get in at 139.60 but had stopped triggered at 139.39 early morning!

Hard luck but hey ho! will watch it for now!
  • #11,293
  • Feb 28, 2014 6:30am Feb 28, 2014 6:30am
Quoting Mpt
{quote} Its called a rounding top It s just a form of price compression. Sometimes it breaks down heavily, sometimes it breaks up the same way
Yes I am betting for heavy down move
  • #11,294
  • Feb 28, 2014 6:54am Feb 28, 2014 6:54am
How you guys playing the data from US in few hours for EUR,JPY & GBP?
  • #11,295
  • Feb 28, 2014 7:03am Feb 28, 2014 7:03am
Quoting Noob Trader
How you guys playing the data from US in few hours for EUR,JPY & GBP?
the first US Data is actually in half an hour...... the Swissy may be showing that its a sell the rumour, buy the news day.....TWT
Trading Levels with WRBs
  • #11,296
  • Feb 28, 2014 7:08am Feb 28, 2014 7:08am
yes US GDP in 23 mins, whats expectation ? better than expected would seen as more taper speed ?
  • #11,297
  • Feb 28, 2014 7:20am Feb 28, 2014 7:20am
I reeallyyy NEEEEEED this pair to get going to the topside.....or I'll blow chunks.....
ETA....yep,I might have to hurl.....If I spew, and the GBP/JPY bolts, that means we were never suposed to be together....!!
  • #11,298
  • Feb 28, 2014 7:31am Feb 28, 2014 7:31am
US GDP 2.4% vs 2.6% expected
US GDP price index 1.8%
  • #11,299
  • Feb 28, 2014 7:32am Feb 28, 2014 7:32am
Quoting Mpt
Slowly, very slowly A break over 170.65 goes to 171.2 next though {image}
4Hr close Above 170.60 would bring about 171.40/171.50 as next target. [For Longs]

4Hr close Below 169.90 would bring about 168.40/168.50 (although 169.00 level is a secondary target if 1st target not achieved within 11 4hr candles) [For shorts]

Lets see in 2 hours when Carney speaks.


Personal bias: Upside; Another test of descending trendline, at 171.40/171.60 region.

Hope this would help geppy traders.

Have a good weekend
  • #11,300
  • Edited 8:04am Feb 28, 2014 7:51am | Edited 8:04am
Quoting Gbp/jpy
I reeallyyy NEEEEEED this pair to get going to the topside.....or I'll blow chunks..... ETA....yep,I might have to hurl.....If I spew, and the GBP/JPY bolts, that means we were never suposed to be together....!!
Where you got long?
Add: If 170.80/60 got taken out we definitely should see 172.20/00
Further upside Targets (longer term) are:
173.20/00
174.60/40
176.00/59.80
177.20/00
Add(2): Institutionals are short JPY positioned @ 164.40/20 and below.
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