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Thread: GBP and JPY Pairs H1 2013

  1. #86791
    Alejandro Zambrano's Avatar
    Alejandro Zambrano is offline DailyFX Analyst and Forum Moderator
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    Bulls vs. Bears - The spread betting morning update July 10 - 2013
    Daily Forex, Stock market indices and Commodity market update.

    Charts .CHD File - Download file and import charts Attachment 220886

    GBPUSD
    As EURUSD, GBPUSD is correcting part of yesterday's losses. I am bearish as long as we trade under 1.4970 and expect price to trade to 1.48 as long as we trade under this level.

    We are still at the reversal area and its looks like we have create a new high.
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  2. #86792
    Alejandro Zambrano's Avatar
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    Bulls vs. Bears - The spread betting morning update July 10 - 2013
    Daily Forex, Stock market indices and Commodity market update.

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    EURJPY - price is bearish and as EURUSD starts to trade lower EURJPY should drop even further. The chart below is a 15 minute frame chart.


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    USDJPY - we are today looking at the 4 hour time frame and price is oversold in relation to its bullish trend. I am expecting price to carve out a low at current level and then trade higher.

    4 hour time frame
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  3. #86793
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    Quote Originally Posted by Lukman Otunuga View Post
    Did anyone catch the USDJPY crash?
    Caught 27 pips from usdjpy short, from 101.37 2 days ago, closed out few hours before the crash. Pretty sure stryker banking big bucks from it, he's talking about it over the weekend. I'm banking peanuts...

    Sorry if I cannot answer you immediately. I'm busy moving the market in the opposite direction...

  4. #86794
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    I have a GBPJPY short from yesterday. Do you advise me to close the position before the FOMC or hold it longer? Any advice is appreciated

  5. #86795
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    Quote Originally Posted by coffee*candle View Post
    I have a GBPJPY short from yesterday. Do you advise me to close the position before the FOMC or hold it longer? Any advice is appreciated
    The GBPJPY is in a very bearish trend! Most technical indicators are pointing to the downside. The pair has currently bounced of the daily S2 and may correct to the daily S1 before a potential move down.

    fundamentally the FOMC may have a strong impact on this pair today, it may be a gamble to hold the trade when the FOMC commences.
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  6. #86796
    akq0 is offline Member
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    Quote Originally Posted by akq0 View Post
    prefering usd jpy atm, looking at the divergence on 4H TF i have a small open short from 101.3, it will top soon (101.9-102 whatever), just need some kind of rumor or small bad news to trigger sell off of 100+ pips
    it took time for the divergence play out..

    I might close it here or wait for FOMC.

    last 2 meetings i remember first one - UJ sell off from 103++ when bernanke started to really talk about tapering

    2nd time bernanke talked about tapering UJ rally.

    UJ is done by marketmaker

    PS: USOIL.. getting ready to short the bish. the crash is coming

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  7. #86797
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    Clean bounce from 128.0 and a rejection from the daily S1

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  8. #86798
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    Thank you for your fast response!

    Quote Originally Posted by Lukman Otunuga View Post
    The GBPJPY is in a very bearish trend! Most technical indicators are pointing to the downside. The pair has currently bounced of the daily S2 and may correct to the daily S1 before a potential move down.

    fundamentally the FOMC may have a strong impact on this pair today, it may be a gamble to hold the trade when the FOMC commences.
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  9. #86799
    chellam is offline Member
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    Iam holding a long GBPUSD , should i wait till the FOMC or close it

  10. #86800
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  11. #86801
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    GBPUSD - best price before dropping lower? We should not trade higher than 1.4950 if this is a genuine down trend - I personally think that this is the best price we can get but we still need to take into account that we can reach 1.4965.

  12. #86802
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    I am looking at the same setup but using the 15 min time frame - I am bearish under 128.80.

    Quote Originally Posted by Lukman Otunuga View Post
    EURJPY Technical Analysis 10/07/2013

    The EURJPY invalidated the bullish outlook yesterday breaking and closing below the daily pivot. The lows of 129.0 were hit on yesterday’s session.

    Today the down move continued with new lows of 128.0. The fundamental reason behind the strengthening of the yen pair may have been the Tertiary Industry Activity m/m with figures larger than the forecast.

    Technically this is a very bearish market. Price are trading below the 20 SMA, the MACD is down and we are also below the daily S1.

    A move to the daily S2 seems very likely. There may be a correction back to the S1 before the S2 is tested.
    Conversely an hourly close above the daily pivot invalidates this bearish outlook.

    We also have a couple of Key news releases today, such as the FOMC meeting minutes, so diligence must be taken when handling the markets today.

    Attachment 220863
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  13. #86803
    Master of OZ is offline Member
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    Quote Originally Posted by Master of OZ View Post
    Short 2 units of USD/JPY at 101.071. SL at 102.60, Targeting 92.00.
    Covered 1 unit at 100.22. waiting for Fed Minutes later today. +85.1 pips.

    Still short 1 unit at 101.071
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  14. #86804
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    EUR/JPY

    4H TF

    as Greg used to say : " EURO EURO , you`re my HERO ! "

    bullish since awakened lol

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    I`m bullish above 128.80, 30 min close
    Last edited by Nightwish; 07-10-2013 at 09:18 AM. Reason: chart
    "To study and not think is a waste. To think and not study is dangerous." - Confucius

  15. #86805
    chellam is offline Member
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    Quote Originally Posted by Master of OZ View Post
    Covered 1 unit at 100.22. waiting for Fed Minutes later today. +85.1 pips.

    Still short 1 unit at 101.071
    Iam expecting the USD will be better with Fed Minutes and USD/JPY will shoot to 101.5 , your expectations ?

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