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Geppy's Geppy Thread (GBP/JPY)

  • #12,221
  • Mar 19, 2014 10:56pm Mar 19, 2014 10:56pm
Read some new stuff to me; Fitch stated the sales tax would not mess up the recovery in Japan, not good for GJ.

Takahide Kiuchu to the WSJ was warning of the bad effects of too much stimulus, another minus for the pair. GJ is a sell, I just cant' say when. So far the 200 SMA on the H4 has been a good deterrent for higher bids. I'm going to attempt another sell at market, 169.24.

One more thing, Sergei Lavrov made threats of retaliation calling U.S. sanctions unacceptable and said there will be consequences for the U.S. GJ is a very risk sensitive pair.
Be humble or be humbled.
  • #12,222
  • Mar 19, 2014 11:22pm Mar 19, 2014 11:22pm
Quoting mercy seat
Hourly TF => : EURUSD 1.3816 (-1) ... USDCHF 0.8819 (+1) ... GBPUSD 1.6531 (-1) ... USDJPY 102.38 (+4) ... USDCAD 1.1241 (+5) ... EURJPY 141.41 (+3) ... AUDUSD 90.33 (+1) ... NZDUSD 85.37 (±0) ... GBPJPY 169.27 (+2) ... GBPAUD 1.8301 (+2) ... 23h01 CET ... Wednesday 19. Mar 2014 Correlation and probabilities with an estimation of strategic direction and potential alignment (Hourly TF) on a day to day basis ... ;-|
Indeed. At this juncture, the dearth of detailed programmatic specificity vis a vis correlation and essential synergies permits a singularly low base in respect of a probability estimate of strategic direction.
  • #12,223
  • Mar 20, 2014 12:39am Mar 20, 2014 12:39am
Hourly TF => : EURUSD 1.3816 (-1) ... USDCHF 0.8819 (+1) ... GBPUSD 1.6531 (-1) ... USDJPY 102.38 (+4) ... USDCAD 1.1241 (+5) ... EURJPY 141.41 (+3) ... AUDUSD 90.33 (+1) ... NZDUSD 85.37 (±0) ... GBPJPY 169.27 (+2) ... GBPAUD 1.8301 (+2) ... 23h01 CET ... Wednesday 19. Mar 2014



GBP/JPY :


Currently it looks set for another attempt to the upside and some further recovery games. Support is near 169.10 or 168.72 zone atm ...

And there are some chances for another move towards 169.60 or 169.90 - 170.03 in case of extension ...

Otherwise no big deals and no contiuation of a recovery unless 169.90 and 170.30 hurdles has been taken out. At least a clean cross of 170.60 is urgently needed in order to obtain some suitable upside structures ...

If that is not the case then we would prefer to sell it again ... especially while it remains curtailed below 169.90 - 95 zone ...

There is still some gravitation ... and another attempt to cut lower cannot be ruled out from here ... critical keys to keep in mind are 168.23 then 167.82 and 167.55 ...

Neutralized with mild upside bias (+2) in near-term perspective as long as above 168.35 - 168.19 zone ... but another cross of below that zone could re-open the downside with ease ...

Only a breakout and sustained range trading above 169.70 - 169.90 can dampen the downside risk. No break - no shake ...



;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,224
  • Mar 20, 2014 2:44am Mar 20, 2014 2:44am
Quoting caldera
My view... Long above 169.1 Short below 168.5 The short-medium term trend is turning from short to long. The news this morning was GBP +ve however, it appears the price is going to gyrate between those levels until FOMC. It seems that's what everyone's waiting for.
Yup ...

Somehow like this ...

;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,225
  • Mar 20, 2014 2:45am Mar 20, 2014 2:45am
Quoting mercy seat
{quote} GBP/JPY : We started with a single long pos since 169.10 ... no big deal ... very small one ... 12.5 k only ... not really a trade ... This has been meant just in order to set up for a fresh mark up function ... Done 06h08 CET ... while prepairing to implement fresh software updates for the system ... ;-|

Okey-dokey ...


GBP/JPY :


This single long position since 169.10 ... got another one at 169.09 now ... 25 k only ... but now it has been a trade with intent ...

Further ENTRIES can be expected to be activated later in case of lower cuts can be observed ...

Done 08h06 CET ... while prepairing to implement fresh software updates for the system ...


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,226
  • Mar 20, 2014 2:58am Mar 20, 2014 2:58am
Quoting mercy seat
Hourly TF => : EURUSD 1.3816 (-1) ... USDCHF 0.8819 (+1) ... GBPUSD 1.6531 (-1) ... USDJPY 102.38 (+4) ... USDCAD 1.1241 (+5) ... EURJPY 141.41 (+3) ... AUDUSD 90.33 (+1) ... NZDUSD 85.37 (±0) ... GBPJPY 169.27 (+2) ... GBPAUD 1.8301 (+2) ... 23h01 CET ... Wednesday 19. Mar 2014

Looks this way atm ...


;-|
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-03-20_08h51_ GBPJPY _ min020 _ (200-spm) candlesticks (PSAR + PP).PNG Size: 29 KB
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,227
  • Mar 20, 2014 5:30am Mar 20, 2014 5:30am
I've sold it but it seems this crappy drops too much slowly............
  • #12,228
  • Mar 20, 2014 6:40am Mar 20, 2014 6:40am
Quoting jimi
I've sold it but it seems this crappy drops too much slowly............
Just need to be patient....take a good example of mercy-seats buy orders... where do you think hes stop loss "sell orders" will be ? Most likely below 169.00 , So just wait till it gets there and runs those stop orders "sell orders" and it will cascade like a house of cards. You might have to put your 30 pip profit at risk to make an extra 75 to 90 pips . I say its worth it or else you will be trading the cable.
  • #12,229
  • Mar 20, 2014 7:06am Mar 20, 2014 7:06am
I did close my short position from 169.64 to 169.11 mainly because I trade very short hrs say 4-8 NYC time and I shoot for 50-55 pips for every 20 pips at risk. GL with tht trade im done for the day .
  • #12,230
  • Mar 20, 2014 7:45am Mar 20, 2014 7:45am
How is GBP/JPY ever gonna break through that 169.7 resistance?
  • #12,231
  • Mar 20, 2014 7:49am Mar 20, 2014 7:49am
I expect going back to 167.90
  • #12,232
  • Mar 20, 2014 8:04am Mar 20, 2014 8:04am
Quoting Didgeridoo
How is GBP/JPY ever gonna break through that 169.7 resistance?
Well if it's technically not on, then it won't. But actually it's the monthly chart that shows the real picture, because you can see that the price has stalled on the 200ema at 17,210. This month's candle is already looking ominously bearish, and if it ends up as a negative shooting star, then we could see some large selling, Anyhow, personally I see this pair pushing much lower before it goes much higher. Time as always will tell.
  • #12,233
  • Mar 20, 2014 8:04am Mar 20, 2014 8:04am
Quoting eNjoyPips
{quote} Current sentiment is Up! However, we need to break the above bolded zone area to continue UP. For anyone who has longs (and that includes me), please be aware that there will be FOMC tonight 1800GMT time. This means prior to that, US open might be a volatile session. Add: Long already closed in case readers wonder. Levels to note 167.8/168 today 168.48 169.2/169.6 zone 169.72
Well done! Keep posting, we need more of your analysis!!
  • #12,234
  • Mar 20, 2014 8:28am Mar 20, 2014 8:28am
Seems to have landed on a support level.
  • #12,235
  • Mar 20, 2014 10:18am Mar 20, 2014 10:18am
Quoting eNjoyPips
{quote} Only 4 hour close below 168.7 would negate bullish movement, and resume bearish movement. Last target would be 169.91 by 0000GMT next trading day.Today's daily levels 171.2 170.2/170.4 169.7 168.7/168.8 (This is an excellent area for bulls to enter) 167.78/167.9

Anyone entered long in this area? I did.

This is today's critical area, do or die. if 4 hour closes below 168.7, downtrend resumes again towards 167.8. What I will do is I will place short on 168.48. My longs would depend on Japan open. If by 0400GMT long target at 169.91 has not been reached, I would forfeit my position prior to tomorrow's US open.

Will update.

It has been a hard day for bulls. Bulls must defend this area real hard for any chance of reaching 170s, let alone 169.7.
  • #12,236
  • Mar 20, 2014 10:21am Mar 20, 2014 10:21am
Another, Sold 169.24 before London and voila! 44 pips. At 173% gain now and closing in on that 300% account triple.
Be humble or be humbled.
  • #12,237
  • Mar 20, 2014 10:21am Mar 20, 2014 10:21am
I am adding Longs
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #12,238
  • Mar 20, 2014 10:24am Mar 20, 2014 10:24am
Quoting workingforex
{quote} Well done! Keep posting, we need more of your analysis!!
Glad to help
  • #12,239
  • Edited 10:37am Mar 20, 2014 10:25am | Edited 10:37am
Quoting mercy seat
GBP/JPY : Nothing changed ... no break no shake ... weakness may prevail below 168.60 ... downside been preferred while below 169.90 ... key zone of balance here around 169.10 ... ping-pong mode ... recovery games been weak today ... and it even did not cross much beyond 169.70 ... ;-| {image}

GBP/JPY :


Currently our total avg for longs it sitting at 168.785 ... this is a result after many moves been done with various sequestration procedures ... up and down and up again ... final sequestreation been in 169.100 zone ... lowest ENTRY LONG from our side been 168.770 ... large trunk ...

Highst ENTRY SHORT been 169.700 and 169.715 ... large trunk as well ...

And in the trading zone between those areas and in the course of time we have had many flip flop and ping-pong trades ...

Our old beloved green line ... which has been derived from those larger TFs as shown many times in the weeks before ... is not that far away again ...

And we are well advised to have a keen eye for that ... Attachment


;-|
2013-07-31 Today's Phrase of the Day: Hold off from any recycle bin experts
  • #12,240
  • Mar 20, 2014 10:43am Mar 20, 2014 10:43am
It's not an easy day by any stretch... First it was resistance at 169.69 and now support at 168.9...

Quoting eNjoyPips
{quote} Anyone entered long in this area? I did. This is today's critical area, do or die. if 4 hour closes below 168.7, downtrend resumes again towards 167.8. What I will do is I will place short on 168.48. My longs would depend on Japan open. If by 0400GMT long target at 169.91 has not been reached, I would forfeit my position prior to tomorrow's US open. Will update. It has been a hard day for bulls. Bulls must defend this area real hard for any chance of reaching 170s, let alone 169.7.
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