gbp/jpy

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GBP/JPY Blows Out Every Expectation

Thursday, May 22nd, 2008

GBP/JPY - created a wonderful ride today. The pounds yen, GBP/JPY presented great easy entries from the early morning setup as highlighted in my earlier post. This pattern usually carry high probability of success if spotted early. Guess what? It did and in fact, it exceeded our expectations by miles.
From the chart here, you could see the exponential […]

GBP/JPY, Quick-Profit Bullish Setup

Thursday, May 22nd, 2008

GBP/JPY has a bullish cup and handle pattern formation in the making on the 20-day and we anticipate a to rise to the 200-day or above in this morning trading session.
This morning we took a 5-lot entry at 203.18. At the moment, the moving average resistances have been broken as you could see on the chart above. We are on […]

GBP/JPY Pose Double Tops

Wednesday, May 14th, 2008

GBP/JPY posses a double tops on intra-day trades. Currently, it is trading with penetration into to 50-day moving average on the 15-min chart.

It won’t be surprising to see further deteriotion pounds sterling if the 203.70 support is broken on the present trend.
For now we are staying out of the market because we can see a slight consolidation […]

GBP/JPY Support Broken

Tuesday, April 29th, 2008

Last night we commented on the direction of the GBP/JPY. We also specified the 62% level of the Fibonacci support at 206.75 a possibility on the Asian market as all “..indicators and trading analyses point south.” See yesterday’s post.
That support level has now been violated and further low of 205.50 seem very plausible. At the time of this post, […]

GBP/JPY Relinquish Morning Gains

Monday, April 28th, 2008

GBPJPY maintained its last week’s bullish tone in the European session this morning. The rallies presented trading opportunities.  
The move of the day started with a quote of 206.78/80 and quickly provided a +100 pips opportunites in less that two hours of trading. After an hour of further consolidation the market rose to a daily high of 208.63.
Downward correction ensued […]

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