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Enter The Dragon - GBP/JPY 2 replies

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Attachments: Dragon Riders GBP/JPY
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Dragon Riders GBP/JPY

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Ummm....dude.....your chart did just that.........the minute you posted it

gotta be some kinda record......happened when you hit the button....he
lol been waiting days for that break. thinking we get a pullback soon then more down. No idea though how far it falls. I feel like UJ isnt ready to drop so cant expect too much here
For a better analogy, compare this week thus far with the activity of the week beginning 8 Sept 2014
ahhh yes!! I remember that week very well.

But the fundamentals of the gbp, usd and the jpy are all different now. Back the gbp was the big dog on the block with usd anticipating a rate hike in the future. now gbp is in constant turmoil because of the brexit and usd gets talked down every other week. The dxy looks extra weak right now and looks like it can drop to 92ish. Im thinking that will take the UJ down with it.
Quoting raiders
ahhh yes!! I remember that week very well. But the fundamentals of the gbp, usd and the jpy are all different now. Back the gbp was the big dog on the block with usd anticipating a rate hike in the future. now gbp is in constant turmoil because of the brexit and usd gets talked down every other week. The dxy looks extra weak right now and looks like it can drop to 92ish. Im thinking that will take the UJ down with it.
And that's why I said "thus far". Failure to break up here, or a loss of 156, in any case about 155 would take it back to the bottom for probably major new lows. As such that would keep Mr Yen happy.
Quoting Mpt
{quote} And that's why I said "thus far". Failure to break up here, or a loss of 156, in any case about 155 would take it back to the bottom for probably major new lows. As such that would keep Mr Yen happy.
Gotcha
i think this line were up against i think is a big one for this pair. Youre like an encyclopedia with the trendlines lol does it match with what you got?
Quoting raiders
{quote} Gotcha i think this line were up against i think is a big one for this pair. Youre like an encyclopedia with the trendlines lol does it match with what you got?
Reckon this is precisely the place to get up from, or fail. And a casual minor new high/non-sustaining spike would do it. I'll post a diagrammatic representation to explain why in a few minutes.


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Quoting Mpt
{quote} Reckon this is precisely the place to get up from, or fail. And a casual minor new high/non-sustaining spike would do it. I'll post a diagrammatic representation to explain why in a few minutes.
good stuff man
edit "casual minor new high/non-sustaining spike would NOT do it
Quoting Mpt
{quote} Reckon this is precisely the place to get up from, or fail. And a casual minor new high/non-sustaining spike would do it. I'll post a diagrammatic representation to explain why in a few minutes. {image}
Wouldnt 164ish be the magic level then because of the pivot? or even 162ish?
Quoting raiders
{quote} Wouldnt 164ish be the magic level then because of the pivot? or even 162ish?
No idea. On an amusing note, there's a Japanese indicator called the Tenkan Sen on my weekly chart. It very rarely ever touches the actual price (or at least has much effect), but did so back at 175 after the BOJ neg interest rate thing. We all know that didn't go well, but hey!, it's back .... at 157.8. Even the Japanese' own indicators want it to fail!
Quoting Mpt
{quote} No idea. On an amusing note, there's a Japanese indicator called the Tenkan Sen on my weekly chart. It very rarely ever touches the actual price (or at least has much effect), but did so back at 175 after the BOJ neg interest rate thing. We all know that didn't go well, but hey!, it's back .... at 157.8. Even the Japanese' own indicators want it to fail!
lol ...
Fix up, trade sharp ...
162 is the untested resistance currently could well be were the trend resumes
Quoting nimbinsstone
162 is the untested resistance currently could well be were the trend resumes
Im thinking the 158.420 support turned resistance
ECB meeting is going to be interesting ... what does Draghi have left? Not much ... this could lead to a rally. COULD!
Fix up, trade sharp ...
Damn market is a piece of sh$%#t today.

I hope US session is so much better.

Not moving but it's still respecting the sloping up trend line.
Be like water go with the flow
Quoting FX-Ray
{quote} (1) 110.625 next long target (2) 109.95/90 (recent long target) - DP (3) 109.55/50 recent resistance / current support G/J may follow until 158.85 if (1) = true Anyway, nice trade there https://www.youtube.com/watch?v=hLcBECiISzE
Great tunes bud!

After yesterday's run and watching the individual currency charts, Figured London would likely fade the gbp before news then take another stab at new highs if they had enough sellers. Seems the intent is there so far. We'll see.

Yesterday's trade went well and I have my undercover scout in the field again.
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Ghost Rider - WWTBMD?
Still bullish with caution as this area could be the C wave down of the H1 chart. But if it keeps going up??? 160 here we go?
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Be like water go with the flow
Almost looks like there is a conspiracy in the ways price has moved.... may be there really is. Gee...I especially hate the pound moves.
When in doubt, HEDGE
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