GBPJPY

Forex Trading: GBPJPY testing 100 hour MA support

Greg Michalowski — Sun, 06 Jul 2008 20:23:33 -0400

The GBPJPY is testing the 100 hour MA at the 211.35 level. The moving average has been tested a number of times but has not been able to record a close below the level. Watch the level and look for a close below to put added pressure on the pair.

Forex News: Sterling Yen Breaks the Downward Slope

Alex Chernomordin — Thu, 03 Jul 2008 03:28:42 -0400

As displayed in the chart below, the GBPJPY has broken the downward slope to the upside, as the 50 day moving average steepens toward the 100 day moving average. Thus, with GBPJPY trading above the resistance trendline and awaiting the convergence of the 50 and 100 day moving averages, the markets seem to be maintaining a bid tone for the Sterling against the Yen into the Bank of England's rate decision next Thursday (7/10).

Forex Trading: After early sell off, the JPY crosses have seen strong bids

Greg Michalowski — Sun, 08 Jun 2008 22:54:55 -0400

As the Nikkei recovered after an initial plunge, the USDJPY and JPY crosses found good buying. EURJPY traded above Fridays high of 166.14 moving to 166.36. The pair is now back below the 166.14 level and may look to retrace back toward the 165.85 level. If the pair fall below this level, the movement looks more range bound for the time being. There is some Japanese news out later today which could influence trading (Leading index at 1:00 AM and Economy Watchers Survey at 3:00 AM).

Forex Trading: GBPJPY is in a volatile trade period

Greg Michalowski — Wed, 04 Jun 2008 09:04:50 -0400

The GBPJPY has been quite volatile of late. Last night it came under pressure as UK news came out weaker than expected (ISM down below 50 at 49.8). But the moves have been quite vicious.

The pair is below the 100 day MA at 205.70 (see chart below) and the 200 hour MA at 206.22 (see above chart) which is bearish in the short term at least. The pair will need to stay below these levels to maintain the bearish tone.

Forex Trading:GBPJPY is approaching resistance

Greg Michalowski — Tue, 03 Jun 2008 09:28:20 -0400

61.8% retracement AND 100 hour MA come in at that level.

Forex Trading: GBPJPY breaks above 200 hour MA

Greg Michalowski — Tue, 03 Jun 2008 08:31:02 -0400

GBPJPY just broke convincingly above the 200 hour MA at the 206.09 level. Yesterday the pair trading four different big figures as it declined from a high of 208.26 to a low of 204.64. The pair went lower this morning after the Construction PMI but has rallied this morning on the back of good buying in the market by Eastern Europeans.

Forex Trading: GBP/JPY still bid though its component is getting crushed...

Michael FX — Tue, 27 May 2008 03:26:09 -0400

GBP/JPY still bid though its component is getting crushed. At this point, it appears that it is USD/JPY which is keeping it firm.

Forex Trading: GBPJPY supported by the breakout level

Greg Michalowski — Tue, 20 May 2008 11:27:35 -0400

The GBPJPY broke through the 100 hour moving average and the trendline starting at the May 14th high at the 203.81 level. The momentum pushed the pair up to a 204.75 high for the day. There is resistance at 205.00 level where tops from the 14th and 15th of May were made. The 203.81 level will be looked at for support.

Forex Trading: Stocks slip and the USDJPY and JPY crosses slip a little

Greg Michalowski — Mon, 19 May 2008 15:43:46 -0400

The stocks are moving lower and the USDJPY and JPY crosses move lower with it. GBPJPY is near the levels that held earlier this morning (with the expection of one move which took the pair to the 202.60 level, but which was quickly reversed). A break of the 202.90-595 level should lead to lower levels.

EURJPY is making new lows for the day. Support comes in at 161.25.

Forex Trading: GBPJPY looking ok....above support at 204.37 and 204.54

Greg Michalowski — Wed, 14 May 2008 11:44:43 -0400

London and Europe are nearly gone and the day has turned quiet. Looking at the GBPJPY chart, the pair looks ok as it has been able to work above both the 50% retracement level of the last move down (see chart) and the 200 hour moving average at 204.54. There is a slow grind higher.