Dragon Riders GBP/JPY

I think Im gonna sit out on 156.4, Im not gonna trade this when market is thin. Also I dont wanna risk a continued short when UJ almost at 106.6.
Who knows which greedy jap will wanna make rumour again.

On a side note...
What are your thoughts on GBP? gains or losses?, is Brexit still a big deal or no? Do you think pound will fall as it tends towards June 23rd?

short it la la testing. - take own risk
* if M1 close above 156.850 , short will fail . - good friday.
** today 1st loss .
** nvm , long win now .

Ok...so im guessing monday will bring excitement since the asians will be back in the market.

UJ im seeing possibly 104.95/8

UC i think could possibly have a bottom in place time will tell if not 1.248 is where im looking

EJ 121 is where im looking first but possibly 117.93

that's was 24 hrs ago..

GR8 weekend traders .

Cheers

Al.

well , holding still as going for the gap down - could easily gap another 100 or so Monday. Not sure why it went down so much today except it was a bank holiday for BoJ , great week 700 pip movement 2 days.

Gold, silver and Oil all went instep to the top....during this fall...... at 1293...gold is at a level, that a month ago... my buddy was calling a sell to go down to new lows.....gold vs. the u s dollar could go anywhere they want by the push of a button.....

I think Brexit is priced in to a large amount. However, as the date is approaching and markets get nervous again, this could lead to renewed selling. If there is no Brexit, that should be positive for Sterling. But who can now surely?

H4 target is 151.00

new positions opened at top of the spike that closed the gap, both usdjpy and gbpjpy

$0.30/pip target 157.00 ..+32 now
* M1 alligator as exit
*M1 close below 155.750 will close long

long +45 now.
* exit if M1 close below 155.87
** 156.00

opened with SL? I have some shorts opened as welll, but they gone -ve :/

i closed long , wait for another long signal.
+77 pips enough .

Time after time, your calls are sharp!

if M1 close below 156.350[ -3 pips] , I will close my long.. then wait another long signal again .

Ya , i now KNOW / PREPARE before price reach entry/exit point .
so , i know what price I must close my long/short , profit or lose , and wait price reach my prepared entry point.
* so now M1 price closed below 156.35, close long , may be short small lot , all depend on mood .

Hey all, not sure if you saw it but I published my weekly outlook yesterday. Below is an excerpt that pertains to GBP/JPY. As a result, I went long in the low 155's and am still holding:

GBP/JPY: In limbo but perhaps heading higher.

Last week I had this chart for GBP/JPY going into the new week of trading:

http://www.forexmademillionaire.com/...9-1024x489.png

Unfortunately we did not come down and test the SMAs, so we were not able to catch the ride up to the next resistance zone. However, I did share this chart with my Patreon crew during the trading week:

http://www.forexmademillionaire.com/...0-1024x583.png

Unless you’ve been living under a rock this week, you know what happened next. Here’s a look at the current 4-hour chart:

http://www.forexmademillionaire.com/...4-1024x620.png

Yep, a huge move down. We caught a big part of it.

But unfortunately, I took a small long position off the SMAs. I’m now flat with a slight loss on that trade, but I’m starting to wonder how wrong I might have actually been. Is GBP/JPY preparing to shoot higher?

As you can see from the 4-hour chart, there is some pretty solid support now far below at the blue ascending trend line. But let’s take a look at some other charts starting with the weekly:
http://www.forexmademillionaire.com/...8-1024x627.png

There’s really one thing I want you to notice here: The clear divergence between price and CCI. I’ve illustrated these with magenta lines. Notice how price has made a lower low recently on the weekly chart, but CCI continues to trend higher and make higher lows.
Now, my trading team will tell you we have pretty awesome luck with these sorts of setups, especially on the higher timeframes. So are we gearing up for a bull run higher?

The daily chart is also a bit interesting with a potential inverse head and shoulders developing:
http://www.forexmademillionaire.com/...1-1024x624.png

Notice I said potential inverse head and shoulders. We don’t know if the right shoulder is actually there yet. But it does offer an interesting argument.
Finally, the volatility since mid February has been pretty nuts. We’ve seen price run up about 900 pips, back down about 1,200 pips, back up some 900 pips, and back down some 700 pips. When I see what was previously a nicely trending market turn excessively volatile like this in a short period of time, it often means price is either topping or bottoming.

In short, I wouldn’t be surprised if we actually see this pair trade higher this week. I may be taking another stab at some longs early on.

Nice post geppy...
Im short now (maybe till friday *crossfinger). Im looking at 154.20 before bounce back (D1 chart).

I find this pair a bit puzzling atm to say the least and flat now, just holding my Kiwi long. What makes the bigger picture more blurry is that the region ahead the level of 146.83 was missed. So maybe another drop here?

as long as price below 156.35 , short prefer.[short term]'
* M30 still up trend yet , above 155.990, if M30 price close below 155.99 , trend down follow H4
* H4 closed below 156.30 , bear flag.close above 156.82 bull flag.
* short n+11 hold , if M1 close above 156.35 , i will close short.
** care if M1 close above 156.35.