First target 174.416. Anyone else shorting? Offer your targets? Time frame?

GBP/JPY

I also drew a fib channel on this recent retracement. Interesting how it has decisively fell through the 50% level or rejected it 3 times...

GBP/JPY

Agree.

GBP/JPY

I might add that it could just fall down to the bottom of the channel for that 3rd bounce right away, which would lead me to believe it might just fall through...

GBP/JPY

Here's another perspective... Doesn't give any specifics in terms of where this pair will go over the next week or 2 in terms of exact price. But watch the channel it's in right now, for 3 bounces on each trend line (upper/lower). I would expect a ...

GBP/JPY

I agree too, 170 is a real possibility. And definitely agree with a short trade bias this week, unless we have a daily close above the last daily close/high. But I think it will need to break through/down the 172-174 level and show that it wants to ...

GBP/JPY

XNAdam - Great analysis. I'm curious what time frame do you enter/exit trades on with this beast?

GBP/JPY

Looking at my chart now, I'm wondering if I should have held a long position. But no worries, I think next week looks a lot simpler to trade, judging from the perfectly formed bull flag on the H4 or H1 chart... Buy at the bottom trend line and sell ...

GBP/JPY

Yep, wish someone would teach me to stay out until the price direction is decisive Short version is: I see it ramping up for upward move, but not sure if there are enough players left in the game for anything to happen today... But that ...

GBP/JPY

I think overall, I agree with everyone on the indecisiveness of the price right now... But bearish flag/channel on the H1 chart still hasn't been broken on the downside, plus price has shown the propensity to bounce off of it. But if it doesn't ...

GBP/JPY

I wish someone would make up my mind for me.

GBP/JPY

ha, ha, glad I'm not the only one looking for a like button. Keep thinking I must be missing it...

GBP/JPY

No break out of the channel yet, but I think I agree with you. I've turned the bus around. Short now, after looking at H1, H4...

GBP/JPY

I agree, could go down from here. If I see a break of the channel it's been following, I'll exit my long and maybe go short...

GBP/JPY

If it takes out 175.472, and approaches 175.971, will probably take profit. These are the daily/monhly pivots. Re-tested them yesterday, but I don't see enough of a rejection of them to go short yet. And I think still a chance this thing doesn't ...

GBP/JPY

I'm long for 50 pips or so, unless something changes, and price rejects 175.472 again...

GBP/JPY

Thanks for your post. Since it's hovering around 175.60, and I also see some resistance in the prior price action there to confirm what you're saying, I exited my long positions, as I won't have time to watch it - leaving for an appointment...

GBP/JPY

I wanted to post a big CONGRATS to all who saw this bearish move, and profited from it. And I admit, my mistake was focusing too much on the daily/week charts and assuming the uptrend would continue without a pull-back. But at least I did ...

GBP/JPY

You might be right, but I think it'll test those pivots first. If it makes it above them, the bulls may be back in business...

GBP/JPY

Again, no problem with your posts, no problem with an opposing view, or someone telling me I'm flat out wrong. I always listen to what others post on here, not here just to spew out my own view, even if I have a hard time shutting up One thing is ...

GBP/JPY