GBPJPY and USDJPY

[jbtrader]

The trend has been and still is clearly in favour of a weaker Yen.

Not suprising given the Monetary policy in Japan.

I can see these pairs continuing to move higher.

They seem to be consolidating at the moment.

 

Any thoughts?

[Guest]

UJ>>

 

I bought UJ at 14325 in the US session today. Fed minutes tomorrow so hoping for a lift up to 125.50 area.Options expiry this week so the big number seems the target. Japan put in a very weak gdp number this week and with their neighbours trying to drop their currency I think related currencies will drop too.

 

GJ>>

 

Keeps testing 19520. UK still has inflation - JUST. So if all goes well we may make a dash for 197.50 this week.

194.20 would be a good entry if we see it tomorrow.

 

James1st

[jbtrader]

Good luck with those James.

Im long both too.

 

Cheers.

[jbtrader]

Taking the opportunity today to add to my GBPJPY long.

 

Might look to add to the EURGBP short later today as well.

 

Just following 2 well established trends.

[FiringSquad13]

 I've been watching the Eur/GBP.  Daily chart looks like it is going to maintain the downward trend.  Although intraday on the 4 hour and hourly it was looking a bit more bullish.  There is definitely an opportunity to make some intra day gains here.

[jbtrader]

Stopped out on these trades.

Live to fight another day.

 

 

WHAT a MARKET!!!

[FiringSquad13]

Yes this correction is hurting many.

[Guest oilfxpro]

WELL OVERSOLD

[Mercury]

Useful to hear.  Fits with my analysis (other thread).  I have taken a Long yesterday but we could get another leg down so being careful with close stops.

[Guest oilfxpro]

reversal?

[Bradders]

I stay away from the GBPJPY but depending on where the monthly chart for the USDJPY ends we could see a further drop.

 

The monthly EURJPY hit the sell price and as I have never traded on monthly charts before, I decided to test it out on my demo account...........its currently sat at 260 pips profit :smileyindifferent: