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Thread: Technical Analysis of GBP/JPY

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    Default Technical Analysis of GBP/JPY

    Todays Trend Up Trend

    Current Outlook The GBP/JPY is in a strong Up trend today.

    The 5M & 15M are all above the 90 level on the stoch and overbought so we have to be patient and wait before we will have any entries.

    The 1M is pulling back right now to the 50 level and below with price testing M2 so we are looking to take our first trade of the day here.

    Since today is an Up trend day we will only be looking to buy into any oversold conditions that present themselves all day long.

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    Default Weekly Technical Commentary

    Support 240.00..239.65..237.65..236.00.
    Resistance 241.85..242.50..244.55..245.45.

    This week: →
    This month: →

    The strongest weekly close since September 1992 and above the key 241.00 level. What a pity that other yen crosses did not manage something similar and confirm the start of another leg higher. Therefore we still cannot rule out a sudden corrective slide. Note that this would be seen as a buying opportunity for yet more Yen weakness later this year. The pound is no longer overbought but upside momentum is weak. We shall continue to be flexible and reverse our view as necessary, with strong weekly closes in other Yen crosses hinting that sterling is leading the way higher. At-the-money implied volatility is expected to base against the 7.00% area and move back up towards 8.50%.


  3. #3
    kanzsea
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    i have open trade from 241.55 sell what i do closed it or wait

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    Default

    Quote Originally Posted by kanzsea View Post
    i have open trade from 241.55 sell what i do closed it or wait
    I advise you to close it now

    and re-sell it it breaks 241.00 strongly for me I put a sell stop order om 240.75 targeting 240.000

    good luck

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    Default

    today also up trend not strong up trend

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    It's seems like we are analyzing the market using only from a technical side of analysis?
    would'nt it be great when we see a fundamental based?
    Thanks.

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    i think the technical is more reliable than fundamental...
    cause sometimes the data is revised...
    then all we can do is wait til the price is not hectic anymore

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    Default

    Moves up above 245.45

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    Default

    i think the bullish trend stops at 247.00
    then it will go down... until 244.00, then we'll see what happened next

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    Default

    Quote Originally Posted by 13thheaven View Post
    i think the bullish trend stops at 247.00
    then it will go down... until 244.00, then we'll see what happened next
    yes this happend

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    Default

    i think there r no Technical Analysis of GBP/JPY because it s move as he like . no regular roll for it

    sorry sir .

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    The GBPJPY pair closed last week above the 247 level, but by the start of this week, it started to inch down a little bit, wondering around the key support at 246.70s, this area looks very critical for today and will probably offer a good demand point. The technical indicators are still pointing higher with a first target at 247.80.




    Support 246.77 246.50 246.20 245.90 245.60
    Resistance 247.00 247.35 247.50 247.80 248.20
    Recommendation
    ...

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    Default

    جزاك الله خيراً

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    Quote Originally Posted by 13thheaven View Post
    i think the technical is more reliable than fundamental...
    cause sometimes the data is revised...
    then all we can do is wait til the price is not hectic anymore
    Strong bull trend of GJ because of carry trade.
    Ie. There a hugh positive interest differential if one buys GBP using/by selling JPY, and a hugh negative interest by selling GBP in JPY.
    Something which fxegypt doesn't care about

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    Default

    Quote Originally Posted by hitler View Post
    i think there r no Technical Analysis of GBP/JPY because it s move as he like . no regular roll for it

    sorry sir .
    Hehe... Don't other pairs move as they like as well?

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