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Recent Posts
- Trade Idea Wrap-up: USD/JPY – Hold long entered at 84.50
- Trade Idea: USD/CAD – Hold long entered at 1.0510
- ECB To Extend Full Allotment Of Refinancing Operations Towards Year-End
- EURUSD: Struggling To Recover Higher
- U.S. Recovery is Tracking Traditional Experience after Financial Crisis Induced Recessions
- Monthly Economic Outlook – August 2010
- Trade Idea Update: GBP/USD – Sell at 1.5470
- GBP/USD – Approaching Sell Zone
- FX Monthly – August 2010
- Trade Idea Update: USD/CHF – Sell at 1.0465
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GBP/JPY Archive
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GBP/JPY Stalking Pullback for Confirmation
Posted on July 12, 2010 | No CommentsThe 4H chart shows the pair bouncing off a 61.8% retracement level. Momentum has been ranging, but there is a slight bearish bias looking at the RSI levels in the 4H chart. The 1H RSI broke below 40 reflecting momentum of the current bearish attempt.... -
GBP/JPY: Topped off at 133.80?
Posted on July 5, 2010 | No CommentsThe GBP/JPY pair may have topped off at the 133.80 level. In the 4H chart, this is the 61.8% retracement of the previous downswing. The market attempted break this level, but formed a topping action. The market has then declined and is now at 132.50... -
GBP/JPY: A Pullback after Double Top; Price Action Volatile but Within Daily Range
Posted on July 2, 2010 | No CommentsThe GBP/JPY completed a double top ahead of today’s NFP release at 8:30AM ET. This double top suggests a decline, but it can also be a flat correction to be followed by continuation. Normally, I would be looking at the pullback to see if it... -
GBP/JPY Drops to Support After Breaking Down
Posted on June 30, 2010 | No CommentsPrice action on GBP/JPY, a daily chart of which is shown, has broken down below an uptrend support line extending from the May low. This uptrend line represents a bullish correction within a larger parallel downtrend channel extending from the August 2009 high. The breakdown... -
GBP/JPY: Bearish Momentum Pop May Imply Weakness
Posted on June 30, 2010 | No CommentsHere I define a bearish RSI(14) pop as a it swings from above 60 straight down below 30 without crossing over its own 5-moving average. The bearish signal is based on the fact that the market is able to muster enough momentum against the prevailing... -
GBP/JPY Weighing to the Downside
Posted on June 24, 2010 | No CommentsPrice action on GBP/JPY, a daily chart of which is shown, has recently been hinting at a potential breakdown of the bullish correction that this currency pair has been entrenched in since the long-term low was hit in late May. This bullish correction exists within... -
GBP/JPY Completes Topping Action; Tests Support
Posted on June 22, 2010 | No CommentsThe GBP/JPY has shown that topping action may be complete. The RSI confirms with a crossover under its 5-period moving average. The negative reversal suggests an aggressive target of 123. However, in the short-term, the 130.45 area is the target. This is 61.8% retracement, and... -
GBP/JPY in a Squeeze
Posted on June 15, 2010 | No CommentsFollowing up with the previous GBP/JPY post, which had a gartley anticipated to complete near 140.00, the GBP/JPY continue to decline in the Asian and European session. This decline brought the market to 61.8% retracement before bouncing back up. 4H chart shows the swing projetion... -
GBP/JPY Stalking Gartley Retracement
Posted on June 15, 2010 | No CommentsThe daily chart of the GBP/JPY shows a rally attempt projecting towards 140 area to complete a gartley retracement pattern. The RSI momentum shows an ability to rise above 50 and stay above its own 5-period. simple moving average. The RSI in the 4H chart...