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Geppy's Geppy Thread (GBP/JPY)

  • #11,301
  • Feb 28, 2014 6:03am Feb 28, 2014 6:03am
Quoting FX-Ray
170.10/69.90 still holding; next decision point 170.80/60
Still valid.
  • #11,302
  • Feb 28, 2014 6:29am Feb 28, 2014 6:29am
Quoting FX-Ray
{quote} Still valid.
I took profit and then got back in at 170.50. I just noticed in the platform I use that GJ is in an ascending triangle pointing towards 170.70, and riding up nicely through all the ruckus.
  • #11,303
  • Feb 28, 2014 6:35am Feb 28, 2014 6:35am
After the 10 am New York OpEx, sell this geppy hard.
  • #11,304
  • Feb 28, 2014 6:56am Feb 28, 2014 6:56am
Quoting Kismet180
{quote} I took profit and then got back in at 170.50. I just noticed in the platform I use that GJ is in an ascending triangle pointing towards 170.70, and riding up nicely through all the ruckus.

I just exited all positions on the plus side because I have to run out for a few minutes. I will hop back on this train when I get back, and with Carney as conductor I hope we see the same price action as last time he spoke. Sorry to all the shorts out there, but Carney is like EF Hutton around this currency pair -- when he speaks everybody listens.
  • #11,305
  • Feb 28, 2014 7:27am Feb 28, 2014 7:27am
Quoting FX-Ray
{quote} 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. {image}
There we go
Im off my desk, wish everyone a nice weekend!
  • #11,306
  • Feb 28, 2014 7:28am Feb 28, 2014 7:28am
Does anyone know where I can pull up a video of Carney when he starts speaking?
  • #11,307
  • Feb 28, 2014 7:49am Feb 28, 2014 7:49am
Quoting FX-Ray
{quote} There we go Im off my desk, wish everyone a nice weekend!
Thanks very much, Ray -- for everything. I am back long on GJ and looking forward to 172+. Also watching UJ because I heard bears really want to drop it down to 101.65ish. I guess they feel the only way to tank all yen crosses at this point is to attach the dollar. We shall see if a short presents itself for one last drop before heading to the moon. Enjoy your weekend!
  • #11,308
  • Feb 28, 2014 8:27am Feb 28, 2014 8:27am
Quoting FX-Ray
{quote} There we go Im off my desk, wish everyone a nice weekend!
Thanks , have a good weekend . Learnt a lot this past few weeks, most importantly I think been patient
  • #11,309
  • Feb 28, 2014 9:40am Feb 28, 2014 9:40am
Still short at 170.47 and holding over the weekend.
Be humble or be humbled.
  • #11,310
  • Feb 28, 2014 10:02am Feb 28, 2014 10:02am
Quoting Temujin
Still short at 170.47 and holding over the weekend.
Enjoy the weekend! I hope you are able to close the short with a big gain come Monday!
  • #11,311
  • Feb 28, 2014 10:24am Feb 28, 2014 10:24am
Quoting Kismet180
{quote} Enjoy the weekend! I hope you are able to close the short with a big gain come Monday!
Take care... to keep yen positions openened during this week-end...

China official manufacturing PMI figures will be released on Saturday, March 1 at 0100 GMT, while markets are closed for the weekend.

  1. 50.0 is the expected (Bloomberg survey) or 50.1 (Reuters survey)
  2. prior was 50.5

-
The HSBC/Markit PMI follows on Monday (March 3) at 0145 GMT. The “Flash” reading for manufacturing PMI for February came in at a lower than expected 48.3

  • #11,312
  • Feb 28, 2014 11:30am Feb 28, 2014 11:30am
Quoting dswk
{quote} Take care... to keep yen positions openened during this week-end... China official manufacturing PMI figures will be released on Saturday, March 1 at 0100 GMT, while markets are closed for the weekend. 50.0 is the expected (Bloomberg survey) or 50.1 (Reuters survey) prior was 50.5 - The HSBC/Markit PMI follows on Monday (March 3) at 0145 GMT. The “Flash” reading for manufacturing PMI for February came in at a lower than expected 48.3
Thanks for the scoop! Is this good for all yen positions, whether long or short?
  • #11,313
  • Feb 28, 2014 11:57am Feb 28, 2014 11:57am
The worst thing you can do (unless you know exactly what you're doing) is keeping positions open over the weekend.

If there is a big gap in the wrong direction you can lose more than just your equity. You'll lose your shirt, trousers and your underwear, and your broker will come looking for you.

Better to exit and then come back with a fresh view of the market.

Here is my current view. We've had a strong uptrend starting 4 Feb - 18 Feb. Currently the market is in consolidation mode forming a textbook bullish flag. The market should continue the uptrend but it will probably require some GBP positive news to do it. There is some important news coming up next week (Manufacturing/Construction/Services PMIs and the Bank Rate and Asset Purchases). If the data fails to meet expectations then there will either be further consolidation or the price will violate the bullish flag.
Attached Image (click to enlarge)
Click to Enlarge Name: 140228_GBPJPY_M30.gif Size: 32 KB
  • #11,314
  • Feb 28, 2014 12:27pm Feb 28, 2014 12:27pm
Seems like the yen crosses has begun the decent within its channel up and so it has started to sloooowly drop. GJ just tapped down at the 50 fib area from this mornings climb and has quietly stalled for some consolidation and a slight bounce at 170.40. Seems like the market has been so quiet for the past 2 hours and so bears must have thought they could quietly drop the pair. I am long GJ right now. Is anyone else? I am just doing burst sales of EJ and UJ to match the fall and maintain my margin.

Anyone have insight as to how far this might go? Wondering if it will end up around 168/169 or if this was the show for the day. Thanks much.
  • #11,315
  • Feb 28, 2014 7:59pm Feb 28, 2014 7:59pm
Quoting eNjoyPips
{quote} 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
Pair went to as high as 171.20, and falling to 170.3/4 region before weekend close.

I still believe this pair would test 171.4/5 at the very least. 4hr close above that I would target 172.2 region, which was swing high. [For Longs]

On the opposite direction, any 4hr close below 170.10, I would target 169.00/169.10 [ For shorts ]

No GBPJPY position carried over the weekend. Just GBPCAD short targeting 1.8408.

My personal bias for next week is that this pair would test 171.4, before falling to test 169.xx again.

Hope February 2014 was nice to everyone. Peace.
  • #11,316
  • Feb 28, 2014 9:58pm Feb 28, 2014 9:58pm
Hi guys!

No comments on GBP/JPY for me as I haven't looked at the chart in a long time. But if it means anything, my short-term bias for U/J is to the downside...

I mostly just wanted to say I started a new thread here (http://www.forexfactory.com/showthread.php?t=473339), and I'd love to have your guys opinion on the "holy grail". Thanks and hope to see you there! Please vote!
Please check out my blog at https://from-zero-to-hero . net
  • #11,317
  • Mar 1, 2014 3:05pm Mar 1, 2014 3:05pm
I don't think risk trends will be very robust this coming week, from Putin with love.
Be humble or be humbled.
  • #11,318
  • Mar 1, 2014 10:32pm Mar 1, 2014 10:32pm
What would be the impact of Ukraine on GBP and JPY ?
  • #11,319
  • Mar 2, 2014 7:02am Mar 2, 2014 7:02am
Quoting Noob Trader
What would be the impact of Ukraine on GBP and JPY ?
Nothing, forget the news and trade the chart.
Trade what you see, not what you think.
  • #11,320
  • Mar 2, 2014 7:39am Mar 2, 2014 7:39am
Quoting karmostaji
{quote} Nothing, forget the news and trade the chart.
Sorry, I am social animal, and news/emotion is not out of mind while trading.
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