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Forex Forum to Share, Discuss, Communicate and Trade Forex • GBP/JPY trading journal
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Re: GBP/JPY trading journal

PostPosted: Wed Dec 23, 2015 3:43 pm
by Kikizyak
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Our preference: short positions below 188.8 with targets @ 175 & 169.5 in extension. Alternative scenario: above 188.8 look for further upside with 191 & 196 as targets. Comment: the RSI is badly directed.

Re: GBP/JPY trading journal

PostPosted: Wed Jan 27, 2016 7:05 pm
by Kikizyak
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Intraday bias in GBP/JPY remains neutral for the moment. The consolidation from 163.96 short term bottom could extend with another rise. But we'd expect upside to be limited by 38.2% retracement of 188.79 to 163.96 at 173.44 and bring fall resumption. Break of 163.96 will extend the fall from 195.86.

Re: GBP/JPY trading journal

PostPosted: Thu Feb 04, 2016 7:41 pm
by Kikizyak
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The recovery from 163.96 could extend to 55 days EMA (now at 176.08). But still, we're treating it as a corrective pattern and expect decline from 195.86 to resume later. On the downside, below 168.55 minor support will turn bias back to the downside for 163.96 low.

Re: GBP/JPY trading journal

PostPosted: Fri Feb 05, 2016 7:33 pm
by Kikizyak
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The immediate support is seen at 169.00, under which the losses could be extended to 168.56 (Jan 27 low). On the other hand, a break above 170.00 could see the pair re-test 170.53 (daily high).

Re: GBP/JPY trading journal

PostPosted: Tue Feb 09, 2016 5:20 pm
by Kikizyak
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The strong break of 168.55 minor support confirmed that recovery from 163.96 is finished at 175.01 already. Intraday bias is back on the downside for 163.96. Break will confirm resumption of larger fall from 195.86 and target 61.8% projection of 188.79 to 163.96 from 175.01 at 159.66. On the upside, above 168.97 minor resistance will turn intraday bias neutral first.

Re: GBP/JPY trading journal

PostPosted: Wed Feb 10, 2016 7:02 pm
by Kikizyak
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Intraday bias in GBP/JPY remains on the downside for 163.96 low. Break will confirm resumption of larger fall from 195.86 and target 61.8% projection of 188.79 to 163.96 from 175.01 at 159.66. On the upside, above 168.97 minor resistance will turn intraday bias neutral first.

Re: GBP/JPY trading journal

PostPosted: Sun Feb 21, 2016 6:35 pm
by Kikizyak
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GBP/JPY stayed in the consolidation pattern from 159.79 short term bottom last week and outlook is unchanged. Initial bias stays neutral this week and more consolidations could be seen. But upside should be limited below 175.01 resistance and bring fall resumption. Below 159.66 will target 100% projection at 150.18 next.

Re: GBP/JPY trading journal

PostPosted: Sun Mar 13, 2016 4:47 pm
by Kikizyak
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In the longer term picture, the up trend from 116.83 long term bottom should have made a medium term top at 195.86 already. We'd expect price actions from 195.86 to develop into a corrective pattern. Such up trend should resume at a later stage after the correction completes.

Re: GBP/JPY trading journal

PostPosted: Sun Mar 20, 2016 4:11 pm
by Kikizyak
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Break will extend the larger down trend. In case of another rise, we'd expect strong resistance above 61.8% retracement of 175.01 to 154.70 at 167.25 to limit upside and bring down trend resumption.

Re: GBP/JPY trading journal

PostPosted: Tue Mar 22, 2016 6:53 pm
by Kikizyak
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Break will extend the larger down trend. In case of another rise, we'd expect strong resistance above 61.8% retracement of 175.01 to 154.70 at 167.25 to limit upside and bring down trend resumption.