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Recent Posts
- Trade Idea Wrap-up: USD/CHF – Buy at 0.8970
- Weekly Review and Outlook: Risk Recovery Short Lived, Dollar to Extend Rally in a Busy Week ahead
- Trade Idea: EUR/JPY – Sell at 104.50
- EUR/USD Short Term Bear Flag?
- Liquidity Crisis? A Currency Perspective
- GBP/USD Candlesticks and Ichimoku Analysis
- Euro Area: Debt Crisis Set to Continue for Years
- GBP/USD Medium Term Downchannel and the QE Debate
- Trade Idea: USD/CHF – Buy at 0.8710
- Trade Idea: USD/CHF – Buy at 0.8440
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GBP/JPY Archive
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GBP/JPY: Rally Attempt Tested; Slingshot or Reversal?
Posted on June 11, 2010 | No CommentsThe GBP/JPY has been rallying, and so far appears to have had 2 legs of rally since last touching the 131 support. In this 4H chart, you can see the market test 135, and the 200-period simple moving average (in grey). The market reacted to... -
GBP/JPY: Anticipating Head and Shoulder Breakout
Posted on June 8, 2010 | No CommentsThe projection I posted on the latest weekly update for GBP/JPY is 123. There are however some supports that need to be broken, and momentum to be had. So far, the market is consolidating above 131.00 which is now becoming the neckline to a possible... -
Chart of The Day: GBP/JPY
Posted on June 7, 2010 | No CommentsPrice action on GBP/JPY, a daily chart of which is shown, has been following a leg of a long-term overall downtrend for about a year now. This downtrend leg is framed by a rough parallel downtrend channel. Recently, within the context of this downtrend channel,... -
GBP/JPY Possibly Topping
Posted on June 3, 2010 | No CommentsThe GBP/JPY broke above 134.50, and may continue to 135.60 to test the 61.8% retracement level. There are some slight signs of possible topping from the 4H candlestick combination forming. A decline appears imminent and targets 123.15. A short-term support from the rising channel support... -
GBP/JPY Bullish Attempt Closing in on Resistance
Posted on June 1, 2010 | No CommentsDaily and 4H: The daily shows that the market is a correction rally attempt. The 134.50 area is 38.2% retracement and should provide some resistance. The 134.50 area was resistance in the 4H time-frame as well and the current rally is nearing that. The RSI... -
AUD/USD and GBP/JPY Looking at Reversal
Posted on May 27, 2010 | No Comments4H and 1H: Yesterady’s anticipation of a decline was premature due to the bearish bias. However, the market managed to crawl back to the 0.8350 area which is the resistance level of the current consolidation zone. 0.8100 is the support. The 4H chart shows the... -
GBP/JPY: Adjusting Target
Posted on May 26, 2010 | No Comments15-min: Following up with yesterday’s GBP/JPY projection, the target needs to be adjusted because a minor cycle low came down to to 129.05 instead of 129.40. The target should be adjusted from 131.20 to near 130.85. The European session was indecisive, and the power of... -
GBP/JPY: Stalking Correction Rally
Posted on May 26, 2010 | No CommentsThe 4H timeframe shows the support at the 127.50/128.00 area holding up. During yesterday’s Forex Video Technical Update, I mentioned that the correction within a ‘triangle’ or rather a flag may be over according to wave counts. The market declined, but I also mentioned that... -
GBP/JPY Elliott Wave Analysis
Posted on May 25, 2010 | No CommentsSterling dropped below support at 130.00 again and this move confirms the wave (ii) of iii has ended at 140.55 and wave (iii) of iii is now unfolding and would bring retest of 126.80, break there would extend to 125.00 and 124.60 (100% projection of...