Gbp/jpy

[Mysticforex 13]

I am starting this thread to talk about GBP/JPY aka The Orient Express.

Currently trading @12305. . . It's starting to look like a bargain. Of course it could go lower, but let's start watching it now and see what happens.

 

 

The first chart is the 4 Hour. I have drawn a preliminary TL.

[Mysticforex 13]

This next chart is the 15M.

I have drawn a TL on this as well. Notice on the left side that the 15M starts on a point of the 4 Hour. The 4 Hour runs along the top, almost parallel to the 800 SMA ( black dashed line ).

 

If you noticed my "Radar Screen", you will see that price has been away from the 800 SMA for 2231 candles. Way oversold.

 

Also, not visible on the chart, above the 800,This week's Pivot. ( over time I have found that the GBP like's to hit it's pivots ).

 

We have 3 strong targets should we have a close above the TL on the 15M.

[Mysticforex 13]

Last but not least, if you prefer to use fibos. . .

[pa18 10]

Love fibs

 

Short entry on 5 min to the tick.

[Obsidian 10]

I rarely touch jpy crosses, just did some math though...price targets:

121.66

121.13

119.21

[pa18 10]

I rarely touch jpy crosses, just did some math though...price targets:

121.66

121.13

119.21

 

Thanks Obsidian

 

My weakness --- holding! :crap:

[pa18 10]

Still scalping the heck out of it ... plus EU GU AU EJ AJ hehehe :rofl:

 

Stop + a few pips and letting it run

[Mysticforex 13]

Still no pop to the upside... so her is a TL on the 1 min.

 

We went down thru S3 today. so TP would be The Daily Pivot @12257 or, play it safe and go for the 800 SMA on the 1 min, 40 pips above but not visable on the chart. Better to play it safe. Remember, Greed Kills.

[Mysticforex 13]

As I was typing we had a close above the 1 min TL. Looking for 40 pips... S/L a new low.

[Mysticforex 13]

uh... I fell asleep...

 

800 SMA ( TP ) hit! Looks like Daily Pivot going to hit.

[pa18 10]

uh... I fell asleep...

 

800 SMA ( TP ) hit! Looks like Daily Pivot going to hit.

 

You fell asleep trading the 1 min!?

 

Nice trade

[Mysticforex 13]

You fell asleep trading the 1 min!?

 

Nice trade

 

Ha ha... there's no drama, it works the same as other time frames.

 

[Obsidian 10]

quite nice free fall :rofl:

next target is 119.21

[Mysticforex 13]

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[roobin54 10]

gbp jpy

 

pattern : shark

 

Forex Market Technical Analyze by Fexmarket.com

 

[roobin54 10]

The price is fluctuating in a consolidation range in the M30 TF. we are expecting a trendy move by getting it out of the area.

 

PCM Brokers Forums

 

[roobin54 10]

gbp jpy

 

We are witnessing an ab=cd harmonic pattern on the H4 TF. the expectation goes for the bearish case if the ground is ready and the supply excels to the demand.

 

 

 

Edited November 17, 2013 by Mysticforex

[Ammeo 10]

I had a pending short 161 hit to 160.5 TP

 

An long pending 161.4 to 162 TP

 

thought we would see a bounce before it climbs again.

 

Since it does move a lot like the EUR/YEN

 

That is trading for you,to many pending orders in too many charts

 

Still reckon small shorts above 161 will be taken out any sudden down moves....

[Mysticforex 13]

Hi Roobin,

 

 

I sometimes view the GJP/JPY as a proxy for risk. At the moment the markets do not seem very "risk - averse ". However, I do agree with you that G/J is due for a "Correction".

In your opinion, how far do you see it going down ?

I have broken it down to a 30 min TF and added some trend lines I see as some important areas of support.

[Mysticforex 13]

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This is a 1 minute chart of GBP/JPY. Can anyone tell me what you see ?

[Mysticforex 13]

30 min chart. red MA is 62 EMA. Blue MA is 200 SMA. Black dashed MA is 800 SMA

Radar Screen:

first line, distance from price to the 800 SMA

Second line: number of candles price has been away from the 800 SMA.

Also notice that there is an as yet unhit WP between price and the 800 SMA

[roobin54 10]

gbp jpy

 

 

 

The price is moving inside a bullish equivalent channel on the H4 TF. A reversal will be on sight if the Ab=cd harmonic pattern is formed and its time is fulfilled. We are expecting to have the price dropped to the lower channel line by having the supply pressure in the market.

Edited December 23, 2013 by roobin54

[Ammeo 10]

I had a pending short 161 hit to 160.5 TP

 

An long pending 161.4 to 162 TP

 

thought we would see a bounce before it climbs again.

[Mysticforex 13]

Here's a possible swing trade I am watching on GBP/JPY. Similar to the EUR/AUD trade we had last week.

 

 

Sell G/J @16970 S/L @ 1703 Close half and move stop to BE@16940 Final target 16625.

[Mysticforex 13]

Here's a possible swing trade I am watching on GBP/JPY. Similar to the EUR/AUD trade we had last week.

 

 

Sell G/J @16970 S/L @ 1703 Close half and move stop to BE@16940 Final target16625.

 

 

Well so far we are moving in the right direction. The holiday week's, back to back , usually throw the timing out a bit. Thank goodness we will return to normalcy next week.

Edited January 13, 2014 by Mysticforex