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GBP/JPY

  • #1,501
  • Sep 19, 2014 7:59am Sep 19, 2014 7:59am
Wow.. a huge shooting star pattern on daily chart is building itself.. if day ends below 178.50 or so, it will a good sign for a trend change..

Happy Trades
Focus only on what truly matters!
  • #1,502
  • Sep 19, 2014 10:52am Sep 19, 2014 10:52am
As to day is quadruple witch friday...so many things could happen...as at now capitulation below
  • #1,503
  • Sep 19, 2014 11:15am Sep 19, 2014 11:15am
Quoting Ata-Turkoglu
Wow.. a huge shooting star pattern on daily chart is building itself.. if day ends below 178.50 or so, it will a good sign for a trend change.. Happy Trades
There is something I don't understand....

The result of the referendum has been no. It should reinforce all GBP pairs. I don't understand why GBP/JPY is falling...

Take a look at FTSE 100.... : huge up
  • #1,504
  • Sep 19, 2014 11:16am Sep 19, 2014 11:16am
Quoting MaximeCau
{quote} There is something I don't understand.... The result of the referendum has been no. It should reinforce all GBP pairs. I don't understand why GBP/JPY is falling... Take a look at FTSE 100.... : huge up
There is no need to understand it.

Trade what you see
  • #1,505
  • Sep 19, 2014 11:23am Sep 19, 2014 11:23am
Quoting MaximeCau
{quote} There is something I don't understand.... The result of the referendum has been no. It should reinforce all GBP pairs. I don't understand why GBP/JPY is falling... Take a look at FTSE 100.... : huge up
Where there is greed and fear, you watch your steps my dear

Happy Trades
Focus only on what truly matters!
  • #1,506
  • Sep 19, 2014 11:23am Sep 19, 2014 11:23am
I can imagine it will continue until 192 . Daily .
The next resistance is around 193.Weekly is more space , possible to rock the 2 .
  • #1,507
  • Sep 19, 2014 11:26am Sep 19, 2014 11:26am
Quoting MaximeCau
{quote} There is something I don't understand.... The result of the referendum has been no. It should reinforce all GBP pairs. I don't understand why GBP/JPY is falling... Take a look at FTSE 100.... : huge up
Perfect example if it was YES vote. was already in price.
  • #1,508
  • Sep 19, 2014 12:12pm Sep 19, 2014 12:12pm
Taking into account that nothing will change with the Economic system in the UK after the NO vote, things will go back to normal basing on broader economic events. Although the unemployment rate in the UK dropped by .1% it was not reflected. If you have a look at daily RSI it is well above the 70s, which could mean a reversal since next week there is not strong data in the UK, which could suggest another wave. IMO we will look at a correction around 175 - 176 before we see the next wave.
Further intraday technical analysis suggests that the pair is under pressure and with the volume sold today it could reach 175.8.
  • #1,509
  • Sep 19, 2014 1:38pm Sep 19, 2014 1:38pm
Quoting MaximeCau
{quote} There is something I don't understand.... The result of the referendum has been no. It should reinforce all GBP pairs. I don't understand why GBP/JPY is falling... Take a look at FTSE 100.... : huge up

this is perfectly understandable. the possibilty of a YES VOTE was factored in. so incase that happens, the prices went up so that the fall wouldn't be too devistating. But the vote turned out to be a NO. Do remember that behind these numbers are humans who are creatures of habbit. Thats why the markets return to a certain number or retrace.
  • #1,510
  • Sep 19, 2014 2:45pm Sep 19, 2014 2:45pm
We should see a break out soon, maybe next week.
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  • #1,511
  • Sep 19, 2014 3:11pm Sep 19, 2014 3:11pm
Break out...
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  • #1,512
  • Sep 19, 2014 3:15pm Sep 19, 2014 3:15pm
Could we go as low as 173 again?
  • #1,513
  • Sep 19, 2014 4:35pm Sep 19, 2014 4:35pm
Quoting cdcalva
Could we go as low as 173 again?
sounds like you have a short placed there?
  • #1,514
  • Sep 19, 2014 4:49pm Sep 19, 2014 4:49pm
Quoting kweiss10
{quote} sounds like you have a short placed there?
No but there was a shooting star pattern on the daily plus daily RSI has been higher than in July highs, so I am considering whether or not a correction would actually be worth opening a short position. Judging by the lack of economic information I just wonder if the rate will be able to sustain mid term, but I don't think we will se 171 - 170 either.
  • #1,515
  • Sep 21, 2014 1:13pm Sep 21, 2014 1:13pm
Quoting Ata-Turkoglu
{quote} I am filtering out your sarcasm... but likewise, GJ is one of the best pairs to trade these days.. I made over +557 pips so far in total since the 8th of September just by trading this pair.. so I don't care what Scotland votes.. either way will be profitable as long as it rises volatility.. Wish you the very best. Happy Trades
Congrats with the pips, it's very good.

My time is limited for trading and FF, only saw your post now. thought you have the same problem, misunderstood, sorry! I was NOT sarcastic.
  • #1,516
  • Sep 21, 2014 2:15pm Sep 21, 2014 2:15pm
Quoting LouiseZA
{quote} Congrats with the pips, it's very good. My time is limited for trading and FF, only saw your post now. thought you have the same problem, misunderstood, sorry! I was NOT sarcastic.
Thanks a lot.. then it was my mistake Louise.. sorry for the misunderstanding

Happy Weekend
Focus only on what truly matters!
  • #1,517
  • Sep 22, 2014 3:38am Sep 22, 2014 3:38am
We are going long again....
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  • #1,518
  • Sep 23, 2014 5:25am Sep 23, 2014 5:25am
We have clearly entered a correction here
  • #1,519
  • Edited 10:33am Sep 24, 2014 10:01am | Edited 10:33am
I think we have a flag here.

EDIT : 177.350 could be intresting for going long if only we break 177.600 which seems to be a pretty strong support level.

Pay attention next high volume down bar for going long.
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  • #1,520
  • Sep 24, 2014 10:10am Sep 24, 2014 10:10am
Quoting MaximeCau
I think we have a flag here. {image}
It looks like a crane to me.. just kidding..

Happy Trades
Focus only on what truly matters!
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