Eureka! Found my Holy Grail: Take opposite positions to bravado. No seriously, I cant see a definite direction yet - analyst just said "Looks like USDJPY was being propped up for the fix". Seems like downward surge could continue. Currently ...

Daily GBP/JPY analysis

Long at 239.35 which is S3. Currently holding but did bounce off the daily trendline at 238.89. If it goes below this I'm bailing out of any longs. Looks like GJ is back to its 300-500 daily pip moves. .

Daily GBP/JPY analysis

Closing my GJ shorts from Friday last week. Have been waiting for this baby to go below the 240.12 S2 level but to no immediate avail. On the sidelines till after the USD data and a direction is confirmed. .

Daily GBP/JPY analysis

"... is right. lost lots of pips yesterday ..." bravado, 1st June? You're blowing hot and cold. I'm still short GJ leading into next week. Todays upwards move had eaten into other profits but my stoploss is always large for GJ. A lot depends on what ...

Daily GBP/JPY analysis

Anyone remember the last NFP? Its was a bit of a damp squid. .

Cable Update (GBPUSD)

I'm still holding on to my shorts as upward movement not yet convincing. Hey I may be wrong, but its unwise to change tactics right now. May bail out just before NFP. 1st major resistance on my chart is at 241.49.

Daily GBP/JPY analysis

I've noticed that GJ responds to technicals better than Cable or UJ. RSI on Cable for example could be screaming Overbought!!! and it surges on regardless, while GJ always seems to have at least an initial retrace. Anyway, its a Friday and ...

Daily GBP/JPY analysis

My live account short was at 241.37, though sell signal was above this. I use EFX for live trading. I loovvvveeee EFX. This is not an endorcement for EFX or MBTrading. But they are good. I use Metatrader for charting. .

Daily GBP/JPY analysis

"No comment" from Chinese Finance minister about the capital gains tax when asked. Ok that knocks out option A. Short still held. .

Daily GBP/JPY analysis

My second short at 241.40 Shanghai down 2.5% , hence the recent slight increase in Gj and the other Yen crosses. 2nd downward movement now in place. 240.75 would be a good profit taking point. Fingers crossed. .

Daily GBP/JPY analysis

Which system told you to short at 241.36? Or was it a signal service - if so which one? .

Daily GBP/JPY analysis

The rumour is that China will be introducing capital gains tax. This has investors worried as this would affect their profits. Shanghai down 3.28%. I'm still holding on to my short unless either: a.) the rumour is rebutted by officials b.) shanghai ...

Daily GBP/JPY analysis

Friday rumours are not a good thing. People tend to panick and close their positions leading to the weekend. I see some extra sad volatility to add to Fridays usual uncertain status. .

Daily GBP/JPY analysis

News from China isn't too good, JPY crosses getting hit. Selling at 241.10. Rumours of capital gains tax the cause. Shanghai down 3%. .

Daily GBP/JPY analysis

Thanks cesarnc, my pleasure. I'm going to look into the other Yen crosses to see which is tradeable. GJ seems to be taking a breather at the 240.99/241.00 area. .

Daily GBP/JPY analysis

In theory yes - the main reason I, and many others, enjoy trading GJ is its almost religious response to indicator levels such as ema's, fib levels, camarilla and pivot points. Other pairs such as usdchf and euro are rubbish at obeying these levels. ...

Daily GBP/JPY analysis

Im off any new entry positions till 1:30pm GMT (8:30 EDT) when a heap of serious data comes in. If I miss the 240.55 boat on the way up I'll try and enter on the dip. The 30 minutes b/t now and and then seems too short to salvage a wrong entry.

Daily GBP/JPY analysis

Moving Average, exponential option

Daily GBP/JPY analysis

The Moving Average indictator comes as standard, embedded within Metatrader - you will find it under 'indicators' (not custom indicators). Select the Exponential option (ema = exponential moving average) .

Daily GBP/JPY analysis

USDCAD also my best trade so far. Just wish it would behave and now go UP as all the pros say it would. I've cut my pevious GJ short at breakeven. GJ now struggling to go over the 240.39 pivot point . I'm a buyer above 240.55 which is the current ...

Daily GBP/JPY analysis