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GBP / JPY (GBPJPY)

daworm · 21 · 15958

daworm

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on: Jan 11, 2010, 12:46 PM

All about GBPJPY here...

It's hovering on the bottom of an upward channel from Dec 9, so there it might be a bounce up today and might reach the 150.78 level anytime this month. If not, 146.30 would be a strong support level.

 
« Last Edit: Aug 01, 2010, 04:04 AM by FutureGizmo »


tutoy

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Reply #1 on: Jan 11, 2010, 05:23 PM
If you follow my FX Alert last Dec.02, 2009 posted in my BLOG http://towergroup.blogspot.com/2009/12/forex-market-alert-recommendation-buy.html you have now at least 500++ pips profits  :D a good opening salvo for this year :applause:
« Last Edit: Jan 11, 2010, 05:44 PM by tutoy »


Langerhans

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Reply #2 on: Jan 12, 2010, 03:30 AM

Wow big gain!


Ping

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Reply #3 on: Aug 11, 2010, 06:31 AM
Short term outlook sa GBPJPY - bear, target 134



 :hello:


disclaimer - not to be taken as a signal, just a personal target/experiment


Dapyo618

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Reply #4 on: Aug 12, 2010, 12:58 AM
^ Nice target... HIT!


Ping

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Reply #5 on: Aug 12, 2010, 06:07 AM
Hahahah .... nakaka tsamba lang ... watch out for more?


 :cool2:


Dtapang

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Reply #6 on: Mar 07, 2012, 09:15 PM
Here's a trade I'm taking. Invalid if it breaks below 126.55. Confluence of obvious supply zone and 50 fib in down trend.



Post Merge: Mar 08, 2012, 03:40 PM
Outcome:
Stopped out, wanted better JPY data to coincide but didnt get that. No averaging for me on this one with NFP upcoming.



Not all win but the setup yielded 20.0 pips that I could have taken off the table but I stuck to my targets speculating on a further bearish movement.

Here's a trade I'm taking. Invalid if it breaks below 126.55. Confluence of obvious supply zone and 50 fib in down trend.


« Last Edit: Mar 08, 2012, 03:40 PM by Dtapang »


DavidApol

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Reply #7 on: Sep 16, 2013, 08:50 PM
The Guppy to Continue its Long-Term Rally

Looking at the daily chart, GBPJPY has been on a long-term uptrend since 2012. The price is currently playing above the 157.500 level. A series of candlesticks closing above the 157.000 level combined with further confirmations that the said major psychological level has been successfully breached would indicate that the price will continue to trend even higher as the next major resistance is found at the area of 161.000.

For those who will be following this recommendation, please take into consideration United Kingdom's economic releases that are expected to disappoint the Pound bulls.

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research?code=DAAP


DavidApol

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Reply #8 on: Sep 24, 2013, 01:45 PM
The Guppy to Trend Higher

Looking at the daily chart, the Guppy (GBPJPY) has been travelling on a bullish channel for quite a while now. Price is currently testing the mid-level resistance (represented by the broken lines), and a bounce from here will increase the chance for the pair to surge even higher.

To read the full trading recommendation, please click this link: http://metisetrade.com/index.php/research?menu=s-technicalreport&code=DAAP


MetisEtradePR

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Reply #9 on: Sep 16, 2014, 06:05 PM


GBPJPY once again failed to break through resistance at 174.593 and will most likely test channel support from the ascending triangle pattern formed by the pair. A short after a break of immediate support at 173.558 is recommended. Take profit could be near secondary support at 171.621. 


MetisEtradePR

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Reply #10 on: Oct 02, 2014, 06:52 PM


Support and Resistance Level

GBPJPY experienced correction these past few days and is currently retesting the previously broken resistance, now support, at 175.344. If this level holds, investors may see another move towards immediate resistance at 177.731. Going long after a bounce from support is recommended for more conservative traders.

Trend Indicators

The period-100 (red line) and period-200 (blue line) simple moving averages in the 4-hour chart suggest that, although the currency is still on an uptrend in the medium-term, short-term bearishness is present as the currency pair recently broke through the first layer of support at 176.333. Another layer of support from the 200 SMA remains at 174.167.

Oscillators

The relative strength index on the 4-hour chart suggests an impending correction as the currency approaches oversold levels. The index currently stands at 31.26, very close to the level 30 oversold signal. If the RSI dips below the latter, a reversal could be confirmed by a cross of index level 30 from below.


MetisEtradePR

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Reply #11 on: Oct 14, 2014, 04:48 PM


Given that the expectation of weak inflation is already taken into account, CPI data to be released later will not significantly affect the speculation that the BOE will increase interest rates earlier than expected.

A buy stop position in GBPJPY is recommended.


MetisEtradePR

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Reply #12 on: Oct 28, 2014, 06:52 PM


Support and Resistance Level

The wedge pattern that has been forming in GBPJPY in the past few weeks could be nearing its breaking point as the recent consolidation shows there is very little room for movement within the consolidation. The immediate resistance presently holds at 175.152, while support holds at 173.770. A break of a latter could provide more momentum for a sell-off until secondary support at 172.631.

Trend Indicators

In the medium-term, the 100-day and 200-day simple moving averages show that pound-yen has simply been consolidating. While currently bullish, a break of support from the 100 SMA at 173.492 could bring prices to test secondary support from the 200 SMA at 172.517. Prices dipping below these two trend indicators would signify a trend shift in the short-term.

Oscillators

The relative strength index (RSI) on the 4-hour chart at 62.40 indicates the currency is nearing overbought conditions. A break of index level 60 could signal a loss in bullish momentum. Coinciding with a break of the mentioned immediate price floor, this could confirm a short-term dip in the pair.
« Last Edit: Oct 28, 2014, 06:53 PM by MetisEtradePR »


MetisEtradePR

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Reply #13 on: Nov 19, 2014, 03:16 PM


Later, the Bank of England will release the minutes and official bank rate votes for the most recent monetary policy meeting. In their inflation report, the BOE decided to cut short-term inflation estimate which influenced speculation that the central bank will not raise interest rates as soon as previously projected. The inflation report possibly influenced committee members to be more dovish than expected. The official bank rate vote is expected to reveal that only two out of nine committee members voted to immediately increase rates. The data release later will confirm if the weak inflation unified the committee members to keep interest rates unchanged given the stagnation in the Euro area and the risk of the global economic slowdown.


MetisEtradePR

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Reply #14 on: Nov 27, 2014, 06:35 PM


Support and Resistance Level

There has been a rising wedge chart pattern formation for the Pound-Yen in the short term. The currency pair will possibly test near the channel support of the chart pattern at 184.968. A rebound from this level confirms the continuation of the chart pattern formation, thus, a buy position should be taken advantage of. Profit-taking should be done before the currency pair reaches the resistance level at 186.115.

Trend Indicators

The 10-day (red line) and 20-day (blue line) simple moving average of GBPJPY reveal that the currency pair has been moving in an uptrend for over a month. This confirms that the currency pair will most likely bounce back up from the nearest support level in pursuit of the uptrend continuation. The simple moving averages can serve as a strong support level of the uptrend.

Oscillators

The relative strength index (RSI) of the GBPJPY four-hour chart indicates that the currency pair is neither overbought nor oversold. The RSI is currently at the 53.22 level. The currency pair will generally move in an uptrend as long as the RSI level stays between 40 and 80.


 


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