GBPJPY analysis – bounced off STR???

weekly and h4 chart – 1 pm Malaysia After yesterday’s bull rally of 500 pips, the bulls look exhausted and bounced off the previous lower which now should turned to a resistance. Take note the bounce also occurred at the region of 50% fib retrcement level of the previous bear run. Will the price keeps [...]

GBPJPY analysis – go bears go….

weekly and h4 charts – 12.30 pm Malaysia ♪♫♫♪ go bears go…. ♫♪♫♫♪♪♫♫♪ when the bears go marching in….♪♫♫♪♪♫♫♪ oh.. i love to be in the team… ♫♪♫♫♪ the next support is in the region of 135.xxlet wait and see what the beast will do next… Read more….

GBPJPY analysis – last week low broken??

weekly and h4 charts at 3 pm Malaysia Price has penetrated last week’s low. The bearish flag on the weekly chart looks most likely will be completed by the end of this week. My next target projection is at the region of 135.xx. Read more….

GBPJPY analysis – lower trendline penetrated again….

weekly and h4 charts as of 12.30 pm Malaysia The bears are really persisting; making another attempt to close below the H4 lower trendline. The bulls’ last line of defense is at the previous low 140.5xx. Should this last of defense falls, then the bears would keep on marching to the south… UPDATE: 8.00 pm [...]

GBPJPY analysis – bounced off 38.2% fib level??

weekly and h4 charts at 10 am Malaysia Geithner’s comments pushed the beast up last night; however, it still failed to break fib 38.2% retracement level. I went short at 144.50 (which coincides with fib 50% retracement level), still targeting 138.9x as my 1st profit taking. Let’s see how low the beast will go…. Read [...]

GBPJPY analysis – downtrend again??

weekly and h4 charts as of 8.00 am Malaysia Price is currently testing the crucial lower trendline on the H4 chart. Should the trendline is penetrated, my 1st target will be around 138.9x. Meanwhile, on the weekly chart, the bearish flag formation is about to complete; a strong indication that the beast is riding the [...]

Daily Expectations 20th April- EUR/JPY, GBP/JPY, AUD/JPY

EURJPY EURJPY closed below the open.Last hour was an Up close but was within a range, expect the market to be in range trading during Asian Trading Time.The Hourly Osc are bearish but over sold so the bears have to be cautious. Hourly Trend is Sideways and Daily Trend is Sideways Down , expect the [...]

GBPJPY analysis – 144.6x soon??

weekly and h4 charts at 8.15 am Malaysia Two bearish candles on the weekly chart indicate that the bulls might be exhausted at the moment. Today I will look for a sell entry for a possible target at 144.6x which is the 161.8% fib level of the Friday’s hi-lo. Good luck and happy trading. Read [...]

GBPJPY analysis – dark cloud cover???

daily chart – 5 am Malaysia A dark cloud cover candle has formed on the daily chart; indicating that the bears are slowly recovering their territory. There is a possibility that the price will test the lower trendline at the 141.50 region within next couple days. Entered a sell position at the day opening. Will [...]

GBPJPY analysis – will the bears be back this week???

weekly chart as of 10 am Decided to stay away yesterday due to Easter Monday holiday. Reviewing the weekly chart, last week’s candle has closed as a bearish spinning top. This might indicates that the bull’s rally might have reached a temporary top last week. I am waiting the price to penetrate last week’s low [...]

Daily Expectations 9th April- EUR/JPY, GBP/JPY, AUD/JPY

EURJPY EURJPY fell short of 40 pips from the level we suggested and quickly reversed but still closed below the open.Last hour was a Down close but was within range, expect the asian trading time to be quiet with a downside bias.The Osc are mixed so cautious approach is needed. Hourly trend is Sideways and the [...]

GBPJPY analysis – Banks’ holiday

Banks at New Zealand, Australia, Europe and UK will be closed today. Thin trading volume is expected today. Won’t trade today… Meanwhile, here is a report from Bloomberg: April 9 (Bloomberg) — The U.K. pound posted a weekly loss against the dollar as British stocks fell for the first time in five weeks. The British [...]

GBPJPY analysis – evening star on daily chart???

daily chart at 5 am Malaysia A variance of evening star formation has formed on the daily chart. Take note of the similar pattern on January 8th. These coming couple days might belong to the bears…. Still holding my yesterday’s sell position (now at -55). Should I stay in front of the chart, I might [...]

GBPJPY analysis – long upper wick on the daily candle??

daily chart – 5 am Malaysia Was away the whole day yesterday. Decided to have a try on “Strat’s Long Term Stress Free Trading“. There is a long upper wick on the yesterday daily candle; which could be a sign of bulls exhaustion. I place a sell stop 20 pips below yesterday low with the [...]

GBPJPY analysis – bearish candle at H4

h4 chart at 1 pm Malaysia Price was rejected at the upper trendline and at last, a bearish candle has appeared on the H4 chart. Hopefully, this time the bears are back for real….. UPDATE: 7.00 pm – stopped out in green choppy price action went down about 90 pips before going up no more [...]

GBPJPY analysis – long legged doji

chart h4 as of 3.15 am Malaysia A long legged doji has formed on the H4 chart. In spite of all the excitement and volatility during London session, market is uncertain of the next direction; which also might indicates the early sign of bulls exhaustion. Based on smaller time-frame price action, I went short at [...]

GBPJPY analysis – crazy bulls run…

daily chart at 6.55 pm Malaysia Stayed out all day long as the bulls ran amok. Has been watching the upper trendline on the daily chart. Now decided to take a CALCULATED risk by going short at 146.64 ; SL 200 pips. UPDATE: 7.18 pm – +65; SL rest at +10 Read more….

GBPJPY analysis – double top formation in progress???

chart h1 at 9.30 pm Price is attempting to break the lower trendline. Looks likely the next support 140.50 will be tested soon. Should price penetrates the support level, then the double top formation would be validated and the next target is 138.15 (as per height of the double top formation). UPDATE: 10.00 pm – [...]

GBPJPY analysis – double top formation in progress???

chart h1 at 9.30 pm Price is attempting to break the lower trendline. Looks likely the next support 140.50 will be tested soon. Should price penetrates the support level, then the double top formation would be validated and the next target is 138.15 (as per height of the double top formation). Read more….

GBPJPY analysis – crazy spike on the April Fool’s Day

1-minute chart at 8.13 am Malaysia A crazy spike which must have caught the bulls off guard. Is someone trying to pull our legs on the April Fool’s Day? I was lucky to be on the right side of the spike… Read more….

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