GBP/JPY Trading 2008

ForexPro · Jan 15, 2008

TP hit +100pips. Will sell a bounce when it occurs.

ForexPro · Jan 15, 2008

Wow. I went out for a hour came back an the S&P futures were down 12 after hours and GBP/JPY down 100pips from when i left. Obviously the street not impressed by INTCs numbers and this will be met with selling by in the Asian session of the carry trade.

209.21 st 210.5 tp 207.21, but ultimately i think we'll go to 2, so will review around Tp level.

bigmrfrank · Jan 15, 2008

Still short and lovin it. So far in 08 GY has been a thing of beauty. I'll post some brief TA in the morning.

Cambist · Jan 16, 2008

I haven't been able to get back in cause the damn thing won't bounce enough for me to hit it with short . . . ugh!

ForexPro · Jan 16, 2008

Tp hit. +200pips. Again, will sell a bounce. Easy money. Let the trend be your friend.

ForexPro · Jan 16, 2008

short 207.74 st 208.74 tp 206.74

ForexPro · Jan 16, 2008

st hit -100. Why the rally? Has Ben turned on the helicopter?

ForexPro · Jan 16, 2008

Must be a head fake. US Cpi figs out soon. CPI core will never be 0.1 or less. So I am shorting again here.
208.61 st 209.11 tp 207.11

ForexPro · Jan 16, 2008

-50. stop hit. Staying on the sidelines now after 2 losses, whilst i mull over near term direction.

bigmrfrank · Jan 16, 2008

Got up this morning to find my short closed and reversed. Now long. Also long GBP/USD. I'm not convince quite yet that the GY long is all that sustainable in the long term but short term is fairly stable with short covering and decent buying. All time frames are just about in harmony with a nasty trend reversing candle on the 4HR. 1HR easily broke it's upper channel trendline and 4HR just blew through it's R1. 211.00 is now R1 and R2 is +/- 211.95. 209.75 is S1 - thats the test to watch.