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the support of gbp/jpy at 146 did break down. And the pair has gone down upto 144.40. Hug move representing risk aversion amidst global sell off. This sell of is not going to die off any time soon. there may be some kind of rebound but it should not last long. eur/jpy also sold at the market and went down upto 136.70. Currently however the pair is rebounding but should not last.
Amogh's Blog
Made a quick profit on GBP/JPY and GBP/USD
Made a quick profit on gbp/jpy and gbp/usd on worst than expected uk news on Manufacturing Production. gbp across the board fell sharply. following the news. gbp/jpy short trade was executed at 147.199 and booked a quick proift at 146.97 for 23 pips profit.
similary gbp/usd short trade is initiated at 1.3379 and booked proift at 1.3358 for 22 pips
similary gbp/usd short trade is initiated at 1.3379 and booked proift at 1.3358 for 22 pips
Booked profit on GBP/JPY long trade
Booked a profit of about 50 pips on gbp/jpy long trade. The price went up to 147 before it retrieved. Hit the adjusted stop loss at 146.50. price seem to be retrieving a bit amides stock rally sell off today. But expected to resume once this sell off completes and stock market rallies once again.
As expected GBP/JPY is cruising up
As expected to bounce back from the recent dip gbp/jpy is cruising up towards 147.30 resistance area. The recent dip was a discount which I took and opened long position at 146 with stop loss at 145 and target at 147.30. I am holding on to this trade and price should go up from here.
Huge trade GBP/JPY short trade
Huge trade for me on gbp/jpy short trade initiated at 145.95 is closed at 144 with a profit of 195 pips. This trade is initiated after the break of 147 support line. Lots of patience needed to hit this target to day. Here is the chart.
GBP/JPY short trade triggered and closed
gbp/jpy short trade triggered at 147 when this level of support broke yesterday. The pair quickly hit the target of 146 and since then it has bounced up and down. However, I am looking for better re entry level for short trade again with this pair now has broken the major support level and has potential to go much further down.
Yen crosses falling down
this month's beginning is not good for carry trades. With bad UK GDP numbers its even worst for GBP/JPY as GBP/USD is also falling down adding more pressure. I have initiated short trade already with GBP/JPY 148.35 with stop loss at 149.55 and take profit at 147. The trade is already in profit. Here is the chart.
Gby/JPY trade initiated at 151.30 is in profit
gby/jpy trade initiated at 151.309 is on; stop loss is at 150.50 and take profit at 153. is now in profit. With the positive sentiments and risk on schenario in global market with good home sales data it looks good and the pair is set to go even higher. I am holding onto this. Here is the chart.
Gby/JPY trade is on; survived the weekend
gby/jpy trade initiated at 151.309 is on; stop loss is at 150.50 and take profit at 153. It survived the weekend break down. Now it is climbing its way back up. the price movement depends on the world stock markets movement. if we can find a good positive start with investors willing to take risk driving markets up then we can expect gbp/jpy to go much higher from this point. Unless there is really a bad news the pair is expected to move up.
Yen crosses are moving sideways
yen crosses have been moving sideways since the non farm payroll news. Though risk is downwards, I had gone counter intuitive trade by playing long gbp/jpy with very short term trade in view. I had expected price to bounce back upto 149.50. But lets watch in days ahead. trade was initiated at 148.31 with target set at 149.50 and stop loss at 147. Here is the chart