GBP/JPY - 3/08/09

[AshForexTrading]

This pair has had a new 1 month high on Friday. Looks bullish at the moment so does the other Yen pair. Gives me an insight that even though we are in an overbought region market still wantes to head up. Stocks may be the one to blame.

We have some good support at 158.00 and 157.45 at this point in time. I expect, price to retrace to 157.96 by London open. If my analysis is right and market is strong on the upside, we may see price head all the way up to 159.35.

Before making any decisions whether to buy or sell, build up a story, ie look at what the other yen pairs are doing, They all to some extent tend to move at the same time except for the USD/JPY which does it's own thing.

Learn more about the daily trades on GBP/JPY here
http://www.forex-trading-domain.com/free...gnals.html

Happy Trading
Ash Naeck
http://www.forex-trading-domain.com

Twit Me On
http://www.twitter.com/ashforextrading

[MDunleavy]

Outlook in GBP/JPY remains unchanged. Intraday bias remains on the downside with 151.16 minor resistance intact and further fall should be seen to 146.75 cluster support next (38.2% retracement of 118.81 to 163.05 at 146.15). Break there will confirm that a medium term top is formed at 163.05 and will bring deeper fall to 61.8% retracement at 135.70 next. On the upside, above 151.16 minor resistance will argue that some more consolidation could be seen before fall resumption. In such case, GBP/JPY might rebound to 153.22 and above but upside is still expected to be limited below 157.47 resistance.[actionforex]

P&F GBPJPY5 Box Size 12X4 or(0.32%) HI/LO
Data 151.718 - 148.038 ~ 0 Month ~ 6.23 Day
Database 1207 records 149.38 (Last Close)
2009-09-15 09~40
2009-09-21 15~10 (GMT+01:00) Paris

BJF Trading Group

151.68|~12|||__x_________________________________________________|0.03%|2.46%
151.56|~24|||__x_o_______________________________________________|0.1%|2.38%
151.44|~36|||__x_o_______________________________________________|0.18%|2.3%
151.32|~48|||__x_o_______________________________________________|0.26%|2.22%
151.20|~6O|||__x_o_______________________________________________|0.34%|2.14%
151.08|~72|||____o_________________________x___x_________________|0.42%|2.05%
150.96|~84|||____o_________________________x_o_x_o_______________|0.5%|1.97%
150.84|~96|||____o_________________________x_o_x_o_x_____________|0.58%|1.89%
150.72|~1O8||____o_________________________x_o_x_o_x_o___________|0.66%|1.81%
150.60|~12O||____o_x_______________________x_o_x_o_x_o___________|0.74%|1.73%
150.48|~132||____o_x_o_____________x___x___x_o___o_x_o___________|0.82%|1.65%
150.36|~144||____o_x_o_____________x_o_x_o_x_____o___o___________|0.9%|1.57%
150.24|~156||____o_x_o_x___________x_o_x_o_x_________o___________|0.97%|1.49%
150.12|~168||____o___o_x_o_________x_o_x_o_x_________o___________|1.05%|1.41%
150.00|~18O||________o_x_o_________x_o_x_o_x_________o___________|1.13%|1.33%
149.88|~192||________o_x_o_________x_o_x_o_x_________o___________|1.21%|1.24%
149.76|~2O4||________o_x_o_________x_o_x_o_x_________o___________|1.29%|1.16%
149.64|~216||________o_x_o_________x_o___o___________o___________|1.37%|1.08%
149.52|~228||________o___o_________x_________________o___________|1.45%|1%
149.40|~24O||============o=========x=================o=x=======x=|1.53%|0.92%
149.28|~252||____________o_____x___x_________________o_x_o_____x_|1.61%|0.84%
149.16|~264||____________o_x___x_o_x_________________o_x_o_____x_|1.69%|0.76%
149.04|~276||____________o_x_o_x_o_x_________________o_x_o_x___x_|1.77%|0.68%
148.92|~288||____________o_x_o_x_o_x_________________o_x_o_x_o_x_|1.84%|0.6%
148.80|~3OO||____________o_x_o_x_o___________________o_x_o_x_o_x_|1.92%|0.51%
148.68|~312||____________o___o_______________________o___o_x_o_x_|2%|0.43%
148.56|~324||____________________________________________o_x_o___|2.08%|0.35%
148.44|~336||____________________________________________o_x_____|2.16%|0.27%
148.32|~348||____________________________________________o_x_____|2.24%|0.19%
148.20|~36O||____________________________________________o_x_____|2.32%|0.11%
148.08|~372||____________________________________________o_______|2.4%|0.03%
147.96|~384||____________________________________________________|2.48%|-0.05%
Column|~396||0_5_134_9_6_134_4_5_4_147_7_7_125_5_6_4_186_118_4_7_|
Count



PDF

[MDunleavy]

GBP/JPY falls further to as low as 144.31 so far and at this point, intraday bias remains on the downside for deeper decline. The break of 146.75 support confirms a medium term reversal pattern and GBP/JPY should now be targeting 50% retracement of 118.81 to 163.05 at 140.93 next. On the upside, above 146.26 minor resistance will turn intraday outlook neutral and bring consolidation. But recovery should be limited below 150.35 resistance and bring fall resumption.[actionforex]

"P&F GBPJPY5 Box Size 20X3 or(0.41%) HI/LO
Data 150.354 - 144.325 ~ 0 Month ~ 7.25 Day
Database 1502 records 145.096 (Last Close)
2009-09-18 04~50
2009-09-25 10~55 (GMT+01:00) Paris
BJF Trading Group"

150.40|~2O|||______________________________|-0.03%|4.21%
150.20|~4O|||______________x_o_____________|0.1%|4.07%
150.00|~6O|||______________x_o_____________|0.24%|3.93%
149.80|~8O|||______________x_o_____________|0.37%|3.79%
149.60|~1OO||______________x_o_____________|0.5%|3.65%
149.40|~12O||o_x___x___x___x_o_____________|0.63%|3.52%
149.20|~14O||o_x_o_x_o_x_o_x_o_____________|0.77%|3.38%
149.00|~16O||o_x_o_x_o_x_o_x_o_____________|0.9%|3.24%
148.80|~18O||o_x_o_x_o_x_o_x_o_____________|1.03%|3.1%
148.60|~2OO||o___o_x_o___o_x_o_____________|1.17%|2.96%
148.40|~22O||____o_x_____o___o_____________|1.3%|2.82%
148.20|~24O||____o___________o_____________|1.43%|2.68%
148.00|~26O||________________o_____________|1.57%|2.55%
147.80|~28O||________________o_____________|1.7%|2.41%
147.60|~3OO||________________o_____________|1.83%|2.27%
147.40|~32O||________________o_____________|1.96%|2.13%
147.20|~34O||________________o_x___________|2.1%|1.99%
147.00|~36O||________________o_x_o_________|2.23%|1.85%
146.80|~38O||________________o_x_o_________|2.36%|1.71%
146.60|~4OO||________________o_x_o_________|2.5%|1.58%
146.40|~42O||________________o___o_________|2.63%|1.44%
146.20|~44O||____________________o_________|2.76%|1.3%
146.00|~46O||____________________o_________|2.9%|1.16%
145.80|~48O||____________________o_________|3.03%|1.02%
145.60|~5OO||____________________o_________|3.16%|0.88%
145.40|~52O||____________________o_____x___|3.29%|0.74%
145.20|~54O||____________________o_x___x_o_|3.43%|0.61%
145.00|~56O||____________________o_x_o_x_o_|3.56%|0.47%
144.80|~58O||____________________o_x_o_x_o_|3.69%|0.33%
144.60|~6OO||____________________o_x_o_x___|3.83%|0.19%
144.40|~62O||____________________o___o_____|3.96%|0.05%
144.20|~64O||______________________________|4.09%|-0.09%
Column|~66O||5_4_6_6_4_4_5_920_4_144_4_5_3_|
Count

GBP/JPY's recovery continues further and with 4 hours MACD crossed above signal line, an intraday low should be in place at 146.30. Some sideway trading could now be seen and strong recovery to 4 hours 55 EMA (now at 148.66) cannot be ruled out. But after all, upside is expected to be limited well below 150.30 resistance and bring fall resumption. As noted before, rebound from 136.96 should have completed at 153.21 already. Below 146.30 will target 144.51 first and break will bring retest of 136.96 key near term support.
In the bigger picture, the bearish outlook remains unchanged. That is, medium term rebound from 118.18, which is a correction to the long term down trend from 07 high of 251.90, has completed with a double top reversal pattern (162.56, 163.05). Fall from 163.05 is tentatively treated as resumption of the long term down trend and should target a new low below 118.81 after completing the rebound from 139.69. We'll hold on to the bearish view as long as 61.8% retracement of 163.05 to 136.69 at 154.12 holds [actionforex]

"P&F GBPJPY1440 Box Size4 250X3 or(6.89%) HI/LO
Data 251.09 - 118.785 ~ 48 Month ~ 1477 Day
Database 1050 records 147.803 (Last Close)
2005-11-07 00~00
2009-11-23 00~00 (GMT+01:00) Paris
BJF Trading Group"

250.75|~425||________o_x_________________________|0.14%|111.1%
246.50|~85O||______x_o_x_o_______________________|1.83%|107.52%
242.25|~1275|______x___x_o_______________________|3.52%|103.94%
238.00|~17OO|__x___x_____o_x_____________________|5.21%|100.36%
233.75|~2125|__x_o_x_____o_x_o___________________|6.91%|96.78%
229.50|~255O|__x_o_x_____o_x_o___________________|8.6%|93.21%
225.25|~2975|__x_o_______o_x_o___________________|10.29%|89.63%
221.00|~34OO|__x_________o___o___________________|11.98%|86.05%
216.75|~3825|__x_____________o___________________|13.68%|82.47%
212.50|~425O|__x_____________o_x_________________|15.37%|78.89%
208.25|~4675|__x_____________o_x_o_______________|17.06%|75.32%
204.00|~51OO|o_x_____________o_x_o_______________|18.75%|71.74%
199.75|~5525|________________o_x_o_______________|20.45%|68.16%
195.50|~595O|________________o___o_______________|22.14%|64.58%
191.25|~6375|____________________o_______________|23.83%|61.01%
187.00|~68OO|____________________o_______________|25.52%|57.43%
182.75|~7225|____________________o_______________|27.22%|53.85%
178.50|~765O|____________________o_______________|28.91%|50.27%
174.25|~8O75|____________________o_______________|30.6%|46.69%
170.00|~85OO|____________________o_______________|32.3%|43.12%
165.75|~8925|____________________o_______________|33.99%|39.54%
161.50|~935O|____________________o_x___x___x_____|35.68%|35.96%
157.25|~9775|____________________o_x_o_x_o_x_o___|37.37%|32.38%
153.00|~1O2O|____________________o_x_o_x_o_x_o_x_|39.07%|28.8%
148.75|~1O62|____________________o_x_o_x_o___o_x_|40.76%|25.23%
144.50|~11O5|____________________o_x_o_x_____o_x_|42.45%|21.65%
140.25|~1147|____________________o___o_x_____o___|44.14%|18.07%
136.00|~119O|________________________o_x_________|45.84%|14.49%
131.75|~1232|________________________o_x_________|47.53%|10.91%
127.50|~1275|________________________o_x_________|49.22%|7.34%
123.25|~1317|________________________o_x_________|50.91%|3.76%
119.00|~136O|________________________o___________|52.61%|0.18%
114.75|~14O2|____________________________________|54.3%|-3.4%
Column|~1445|1_9_3_5_2_2_7_4_104_175_10103_3_5_3_|
Count

[MDunleavy]

GBP/JPY's recovery continues further and with 4 hours MACD crossed above signal line, an intraday low should be in place at 146.30. Some sideway trading could now be seen and strong recovery to 4 hours 55 EMA (now at 148.66) cannot be ruled out. But after all, upside is expected to be limited well below 150.30 resistance and bring fall resumption. As noted before, rebound from 136.96 should have completed at 153.21 already. Below 146.30 will target 144.51 first and break will bring retest of 136.96 key near term support.
In the bigger picture, the bearish outlook remains unchanged. That is, medium term rebound from 118.18, which is a correction to the long term down trend from 07 high of 251.90, has completed with a double top reversal pattern (162.56, 163.05). Fall from 163.05 is tentatively treated as resumption of the long term down trend and should target a new low below 118.81 after completing the rebound from 139.69. We'll hold on to the bearish view as long as 61.8% retracement of 163.05 to 136.69 at 154.12 holds [actionforex]

"P&F GBPJPY1440 Box Size4 250X3 or(6.89%) HI/LO
Data 251.09 - 118.785 ~ 48 Month ~ 1477 Day
Database 1050 records 147.803 (Last Close)
2005-11-07 00~00
2009-11-23 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

250.75|~425||________o_x_________________________|0.14%|111.1%
246.50|~85O||______x_o_x_o_______________________|1.83%|107.52%
242.25|~1275|______x___x_o_______________________|3.52%|103.94%
238.00|~17OO|__x___x_____o_x_____________________|5.21%|100.36%
233.75|~2125|__x_o_x_____o_x_o___________________|6.91%|96.78%
229.50|~255O|__x_o_x_____o_x_o___________________|8.6%|93.21%
225.25|~2975|__x_o_______o_x_o___________________|10.29%|89.63%
221.00|~34OO|__x_________o___o___________________|11.98%|86.05%
216.75|~3825|__x_____________o___________________|13.68%|82.47%
212.50|~425O|__x_____________o_x_________________|15.37%|78.89%
208.25|~4675|__x_____________o_x_o_______________|17.06%|75.32%
204.00|~51OO|o_x_____________o_x_o_______________|18.75%|71.74%
199.75|~5525|________________o_x_o_______________|20.45%|68.16%
195.50|~595O|________________o___o_______________|22.14%|64.58%
191.25|~6375|____________________o_______________|23.83%|61.01%
187.00|~68OO|____________________o_______________|25.52%|57.43%
182.75|~7225|____________________o_______________|27.22%|53.85%
178.50|~765O|____________________o_______________|28.91%|50.27%
174.25|~8O75|____________________o_______________|30.6%|46.69%
170.00|~85OO|____________________o_______________|32.3%|43.12%
165.75|~8925|____________________o_______________|33.99%|39.54%
161.50|~935O|____________________o_x___x___x_____|35.68%|35.96%
157.25|~9775|____________________o_x_o_x_o_x_o___|37.37%|32.38%
153.00|~1O2O|____________________o_x_o_x_o_x_o_x_|39.07%|28.8%
148.75|~1O62|____________________o_x_o_x_o___o_x_|40.76%|25.23%
144.50|~11O5|____________________o_x_o_x_____o_x_|42.45%|21.65%
140.25|~1147|____________________o___o_x_____o___|44.14%|18.07%
136.00|~119O|________________________o_x_________|45.84%|14.49%
131.75|~1232|________________________o_x_________|47.53%|10.91%
127.50|~1275|________________________o_x_________|49.22%|7.34%
123.25|~1317|________________________o_x_________|50.91%|3.76%
119.00|~136O|________________________o___________|52.61%|0.18%
114.75|~14O2|____________________________________|54.3%|-3.4%
Column|~1445|1_9_3_5_2_2_7_4_104_175_10103_3_5_3_|
Count




BJF-Trading-Group-091123_gbpjpyMix.xls

[MDunleavy]

GBP/JPY
The GBP/JPY pair succeeded in achieving the expected bearishness yesterday, seen on the secondary four-hour chart. We still believe that additional downside movements could be witnessed over intraday basis, supported by the previous explained Elliott scenario. A break of 139.90 will confirm and accelerate the suggested negative scenario.
The trading range for the week is among key support at 135.50 and key resistance at 144.15.
The general trend is to the downside as far as 167.40 remains intact with target at 116.00.
Support: 140.00, 139.25, 138.60, 137.90, 137.25
Resistance: 141.00, 141.50, 142.25, 142.75, 143.45
Recommendation Based on the charts and explanations above our opinion is, selling the pair with a breakout below 139.90 targeting 137.60 and stop loss above 141.60 might be appropriate.[Written by ecPulse.com]

"P&F GBPJPY1440 Box Size 425X3 or(6.89%) CLOSE
Data 251.09 - 118.81 ~ 92 Month ~ 2809 Day
Database 2000 records 140.061 (Last Close)
2002-06-04 00~00
2010-02-11 00~00 (GMT+01:00) Paris
BJF Trading Group chart"

250.75|~425||____________________________________________________|0.14%|111.05%
246.50|~85O||____________________________x_______________________|1.83%|107.47%
242.25|~1275|____________________________x_o_____________________|3.52%|103.9%
238.00|~17OO|________________________x___x_o_x___________________|5.21%|100.32%
233.75|~2125|________________________x_o_x_o_x_o_________________|6.91%|96.74%
229.50|~255O|________________________x_o_x_o_x_o_________________|8.6%|93.17%
225.25|~2975|________________________x_o_x_o___o_________________|10.29%|89.59%
221.00|~34OO|________________________x_o_______o_________________|11.98%|86.01%
216.75|~3825|________________________x_________o_________________|13.68%|82.43%
212.50|~425O|____________________x___x_________o_x_______________|15.37%|78.86%
208.25|~4675|____________________x_o_x_________o_x_o_____________|17.06%|75.28%
204.00|~51OO|________x___x___x___x_o_x_________o_x_o_____________|18.75%|71.7%
199.75|~5525|________x_o_x_o_x_o_x_o___________o_x_o_____________|20.45%|68.13%
195.50|~595O|x___x___x_o_x_o_x_o_x_____________o_x_o_____________|22.14%|64.55%
191.25|~6375|x_o_x_o_x_o___o_x_o_______________o___o_____________|23.83%|60.97%
187.00|~68OO|x_o_x_o_x_____o_______________________o_____________|25.52%|57.39%
182.75|~7225|x_o___o_x_____________________________o_____________|27.22%|53.82%
178.50|~765O|______o_______________________________o_____________|28.91%|50.24%
174.25|~8O75|______________________________________o_____________|30.6%|46.66%
170.00|~85OO|______________________________________o_____________|32.3%|43.09%
165.75|~8925|______________________________________o_____________|33.99%|39.51%
161.50|~935O|______________________________________o_____x___x___|35.68%|35.93%
157.25|~9775|======================================o=x===x=o=x=o=|37.37%|32.35%
153.00|~1O2O|______________________________________o_x_o_x_o_x_o_|39.07%|28.78%
148.75|~1O62|______________________________________o_x_o_x_o___o_|40.76%|25.2%
144.50|~11O5|______________________________________o___o_x_____o_|42.45%|21.62%
140.25|~1147|__________________________________________o_x_____o_|44.14%|18.05%
136.00|~119O|==========================================o=x=====o=|45.84%|14.47%
131.75|~1232|__________________________________________o_x_______|47.53%|10.89%
127.50|~1275|__________________________________________o_x_______|49.22%|7.31%
123.25|~1317|__________________________________________o_x_______|50.91%|3.74%
119.00|~136O|__________________________________________o_________|52.61%|0.16%
114.75|~14O2|____________________________________________________|54.3%|-3.42%
Column|~1445|4_3_3_4_6_3_3_4_4_3_5_3_9_4_6_5_3_115_163_9_103_3_6_|
Count



BJF-Trading-Group_Excel_Chart

[cemejacky]

I trade USD/CAD on the short side. At present time it is 90% + correlated to the Dow !

If the Dow goes up 300 as an example then as money flows out of the US Bonds, watch the Yield on the 2 Year and 10 Year to see the money flow !

As the Dow goes UP the US Bonds are sold and money flows back into the Dow and other currencies including the CAD.

In reverse when the Dow heads down then the money goes back into the short term safety of the US Bonds and out of the other currency pairs.

EUR/USD also follows this pattern but the price of Oil is also a factor.