Geppy's Geppy Thread (GBP/JPY)

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regards, A noob.

G/U doesn't seem to be the main driver of G/J atm... it is stagnant.

U/J is at a former support/resistance level that was a key level before NFP last week. The price has broken below it. If the level holds we could see further declines in U/J and hence G/J.

George Soros Offers His Two Pence on Scotland's Currency Debate -- WSJ Blog

12 Mrz 2014, 16:28

By Alex Brittain

George Soros, the man who nearly broke the Bank of England with a huge bet against the pound in 1992, has spoken on the currency options that would be open to Scotland if it voted for independence in September.

An independent Scottish currency could be vulnerable to attack from the type of speculation he used to practice, Mr. Soros, now retired from day-to-day investing, said at a presentation in London Wednesday. It would be difficult for Scotland to share the pound with the rest of the U.K., he added.

"An independent currency would be, I think, very inefficient and potentially dangerous, because currencies can be attacked, [people] can speculate against currencies, and then you have a weak currency," Mr. Soros said. "And I think there would be some takers."

Scottish pro-independence campaigners themselves don't advocate forming an independent currency. 'Yes' campaign leader and Scottish First Minister Alex Salmond has said if Scotland becomes independent it should be allowed to share the pound, and the Bank of England, with the rest of the U.K.

However, the three main political parties in London said last month in a co-ordinated response they would oppose forming a "sterling zone" with Scotland. Mr. Soros Wednesday also said such an arrangement -- sharing a currency without political union or fiscal transfers -- "would be a very difficult relationship."

A spokesperson for the 'Yes' campaign, responding to Mr. Soros' comments, said: "Sharing the pound in a formal currency union is the most sensible option, both for an independent Scotland and the rest of the U.K."

The Westminster parties' refusal to form a currency zone would limit Scotland's options. In addition to forming a new, independent currency, Scotland could join the euro zone or adopt the pound unilaterally in the same way that Panama and Ecuador use the U.S. dollar, without having an influence on its monetary policy.

Mr. Salmond says he believes the U.K. government would change its tune and agree to a currency union if Scots voted for independence Sept. 18. "After a Yes vote, sensible economic decisions will take the place of political posturing aimed at trying to secure a No vote," a spokesperson for his campaign said Wednesday.

Mr. Soros became notorious in the U.K. in 1992 when his fund made a huge bet against the pound that contributed to the currency being forced out of the European Exchange Rate Mechanism, a precursor to the euro zone. The BOE on "Black Wednesday", Sept. 16, 1992 spent billions in a doomed attempt to keep the pound strong enough to stay inside the system.

Mr. Soros, a supporter of political union within Europe, was in London to a launch a book warning that the EU could face a decades-long disintegration as a result of the euro-zone debt crisis. Decisions made in Germany in particular have created a two-tier Europe of creditor and debtor nations, and people in the latter are now becoming increasingly resentful of the EU as a whole, he argues in the book, titled "the Tragedy of the European Union."

March 12, 2014 11:28 ET (15:28 GMT)

Some thoughts related to Sterling Pounder ...

if thats the case, i would be betting long on argument of buying rumor sell fact. given upcoming fomc meeting, there should be yen selloff prior to it, and decrease in u/j after [decrease influx of usd (taper).] please correct if the idea is ill.

FOMC isn't until next Wednesday along with the unemployment rate and other MPC data. Alot can happen before that.

My view is short term technical. G/J has dropped below the 50% fib and has broken a number of technical levels, therefore it is either going to continue down or consolidate until there is confirmation otherwise.

gbp/jpy it's still long , just go to long positions , don't worry. i am long.

GBP/JPY :


Further profits and position squaring in consideration as shown there ...

Some further EXITS planned in 170.72 - 170.81 zone ... other ones will follow manually without any further hints or note ...

After all this we will take some A REVERSO mode procedures for a selling down leg into consideration again ... "Rollover" is looming ...



;-|

Oh yes ... don't worry ... we did this morning ...

Alles zu seiner Zeit ... but now that is not big deal time zone anymore ...

Change of value date is looming ... and afterwards we will check out with Tokyo and Singapore ...


;-|

All righty....strap in for the two best days for gbp/jpy P A
midnite New York or London Open......usually 4:30 am New York.

Reading all the posts I missed. Seems to still be in a tentative downtrend. Even though stocks are selling in N.Y. and of course selling for U.S. dollars USD/CHF sucks, why? I don't know. Lost 35 pips on that horrible long and had to capitulate today. We are almost to D-day with the G-7 vs. Russia. Gold is rising, the yen carry is leaking out day by day. These markets really suck now. Near historic highs with bear signals abounding and yet they remain as if some kind of buying appeal will suddenly materialize. The question that intrigues me though is after Crimea joins mother Russia and this thing gets way worse ( and it will) what is the safe haven money that will start cracking like popcorn? I think GBP/USD. 70% of Europe's hedge funds reside in London and it is the capital of the financial world. If NATO starts to mess about I say the good old quid to calm those fears. Maybe next quarter that multi year USD bull market touted by the banks will finally begin, hope so.

So far, so good. I went with a weird pair but still GBP. GBP/CHF long at 145.33.

If 170.5/6 level holds, next level is 172, where we would see consolidation.

Above 172, next 173.6 (with minor resistance at 173)

Below 172, retest of 170.8/6 again.

Thursdays and Fridays are good days to trade this pair, since direction is more predictable.

Agreed, this is beginning to look increasingly bullish. It's holding onto the trendline from 04/02. I think this trendline is the key here

GBPUSD looks like its going to rise especially considering yesterdays hammer candle.

USDJPY looks like its going to punch through 102.84.

50pip spike, anyone know where that came from?

Good morning everyone. Looks like quite a lively Asian session on all pairs. Certainly looks like the momentum has turned around since yesterday when it looked as if we might have a major sell off, but it stuttered on the H4 200ema combined with the trend line anchored on the 5th Feb. I want to buy, but have to wait for a pullback which will set the signal on my charts to do so. not sure where it has to come back down to, but could be around the 17,085 level, though I think that will be the lowest it'll come down to today. For the top level, I think 17,278 would be a good level to aim for if it really takes off, which is pivot level R3 + the 76.4% fib. Good luck all

Worse than expected Chinese data is dragging UJ lower, so it may not break 102.84 anytime soon. However GU is holding above yesterdays high.

I'd say 170.63 needs to hold for longs.

okay I've just bought @ 171.06. SL 170.94.