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Geppy's Geppy Thread (GBP/JPY)

  • #12,661
  • Apr 2, 2014 2:47am Apr 2, 2014 2:47am
Minor decision point @ 172.59/50
  • #12,662
  • Apr 2, 2014 2:58am Apr 2, 2014 2:58am
Quoting FX-Ray
Minor decision point @ 172.59/50
Stops inbetween @ 173.20/10

Need to leave Frontoffice, off my desk laters.
  • #12,663
  • Apr 2, 2014 4:32am Apr 2, 2014 4:32am
Good Morning Traders,

Just popped in to give up a little heads up

There is a 10am Eastern Options Barrier (USD/JPY) for today, Wednesday, April 2, 2014

104.00/05 pay out 400 million

This barrier is current limiting the rise of the USD/JPY.

There are also Offers (sellers) at 104.00

However the stops between 104.10/50 are being targeted so watch for the 8:15am EASTERN ADP Non-Farm Employment Change to help move things along.

As the USD/JPY rise, so will the GBP/JPY.

GBP/JPY
Resistance
172.623 was breached
173.337 next to be tested
174.970

USD/JPY
Resistance
103.764 The high was taken out and stops above were hit (bullish continuation)
104.178
104.332 currently being targeted
104.851 very significant
105.160

Hope this helps you a bit to understand, what is going on and why.



HDA OUT
  • #12,664
  • Apr 2, 2014 4:35am Apr 2, 2014 4:35am
Quoting HDA
Good Morning Traders, Just popped in to give up a little heads up There is a 10am Eastern Options Barrier (USD/JPY) for today, Wednesday, April 2, 2014 104.00/05 pay out 400 million This barrier is current limiting the rise of the USD/JPY. There are also Offers (sellers) at 104.00 However the stops between 104.10/50 are being targeted so watch for the 8:15am EASTERN ADP Non-Farm Employment Change to help move things along. As the USD/JPY rise, so will the GBP/JPY. GBP/JPY Resistance 172.623 was breached 173.337 next to be tested 174.970 USD/JPY...
+5, Grade A, Superman!
  • #12,665
  • Apr 2, 2014 4:36am Apr 2, 2014 4:36am
would have preferred a much bigger retracement say to the 172.40 zone, I dont know too much about buying right now. Seems really expensive with a lot of risk. and neither can I short as the bull market is quite strong in all time frames . shorting opportunities will arise once all the 75% retailers trying to call the top get flushed out.
  • #12,666
  • Apr 2, 2014 5:08am Apr 2, 2014 5:08am
Quoting ruffryders
HDA, wow, this is some comprehensive review. thank you sir! Will keep eyes open for the highlighted levels. GJ does not offer much of a pullback entry currently.
@reffryders:

You're welcome

HDA OUT

  • #12,667
  • Apr 2, 2014 5:11am Apr 2, 2014 5:11am
Quoting Far-Mar
{quote} +5, Grade A, Superman!
@Far-Mar:

Thank you and like the rest of you, I too am here to learn as we all share.

HDA OUT

  • #12,668
  • Apr 2, 2014 6:07am Apr 2, 2014 6:07am
now looking for a deeper dip to 171.70-172.00 to see if that sparks buying interest.

looking to buy the dipper. 172 is on screen now.
  • #12,669
  • Apr 2, 2014 6:53am Apr 2, 2014 6:53am
Quoting FX-Ray
Minor decision point @ 172.59/50
Holding. Positive.
  • #12,670
  • Apr 2, 2014 7:01am Apr 2, 2014 7:01am
Quoting FX-Ray
{quote} Stops inbetween @ 173.20/10 Need to leave Frontoffice, off my desk laters.
Update: 173.22/18/15/10
  • #12,671
  • Apr 2, 2014 7:04am Apr 2, 2014 7:04am
Quoting IveGotQuads
would have preferred a much bigger retracement say to the 172.40 zone, I dont know too much about buying right now. Seems really expensive with a lot of risk. and neither can I short as the bull market is quite strong in all time frames . shorting opportunities will arise once all the 75% retailers trying to call the top get flushed out.
Thats how it is.
  • #12,672
  • Apr 2, 2014 7:05am Apr 2, 2014 7:05am
USD ADP Non-Farm Employment Change in t-8Min.
  • #12,673
  • Apr 2, 2014 7:18am Apr 2, 2014 7:18am
Quoting FX-Ray
USD ADP Non-Farm Employment Change in t-8Min.
191k < 192k, no big deal
  • #12,674
  • Apr 2, 2014 7:22am Apr 2, 2014 7:22am
Quoting FX-Ray
{quote} 191k < 192k, no big deal
See no move as of now, but should be a delayed move with USD positive, just my opinion.

Did manage to get in long on GJ @ 172.55, hopefully should see 173 but not a lot of movement today.
  • #12,675
  • Apr 2, 2014 7:26am Apr 2, 2014 7:26am
Quoting workingforex
{quote} See no move as of now, but should be a delayed move with USD positive, just my opinion. Did manage to get in long on GJ @ 172.55, hopefully should see 173 but not a lot of movement today.
Indeed possible. Worth waiting for NY.
  • #12,676
  • Apr 2, 2014 7:27am Apr 2, 2014 7:27am
Quoting workingforex
{quote} See no move as of now, but should be a delayed move with USD positive, just my opinion. Did manage to get in long on GJ @ 172.55, hopefully should see 173 but not a lot of movement today.
173 unrealistic, without 172 dip, IMO.
  • #12,677
  • Apr 2, 2014 7:30am Apr 2, 2014 7:30am
Quoting ruffryders
{quote} 173 unrealistic, without 172 dip, IMO.
Okay! I am watching
  • #12,678
  • Edited 7:53am Apr 2, 2014 7:32am | Edited 7:53am
Over 173.1/2 the uptrend (obviously) confirms and continues. Failure to break that level keeps alive the notion of a much larger triangle
  • #12,679
  • Apr 2, 2014 7:38am Apr 2, 2014 7:38am
Quoting workingforex
{quote} Okay! I am watching
lets see what PA does @ yesterday's low first.
  • #12,680
  • Edited 8:13am Apr 2, 2014 8:03am | Edited 8:13am
Quoting ruffryders
{quote} lets see what PA does @ yesterday's low first.
@ruffryders:

This 10am eastern USD/JPY Options barrier 104.00/05 and Offers (sellers) at 104.00 has limited the rise of the USD/JPY.

Don't forget the strong strong bids are at 1.0320 USD/JPY to support the bullish continuation which in turn supports the bullish continuation of the GBP/JPY.

USD/JPY
Support
103.245 strong strong support
102.819
102.254

Pay attention to any pullbacks on the USD/JPY and note, that if price action should reach 103.20 (because the bids at 103.20 are very very heavy), you should immediately buy the GBP/JPY and whatever the GBP/JPY price is trading at for re-entry towards the next resistance target of the USD/JPY.

USD/JPY
Resistance
103.764 The high was taken out and stops above were hit (bullish continuation)
104.178 - dont ignore
104.332 currently being targeted
104.851 very significant
105.160

So if price action on the USD/JPY get to 103.20, quickly look and see if it corresponds with the significant level on the GBP/JPY, that I suggested you look out for as support and trade it.

GBP/JPY
Support
172.08
171.07

So while you are in your trade on the GBP/JPY, your exits in terms of take profits MUST be executed before the USD/JPY reaches its next level of resistance. Once the USD/JPY reaches its next level of resistance, you MUST IMMEDIATELY take some profit of your GBP/JPY long.

HDA OUT
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