GBP/JPY

Forex Trading - GBP/JPY Trying to Retrace Losses

Alex Chernomordin — Tue, 19 Aug 2008 22:26:08 -0400

Utilizing the July 23rd highs and the August 13th lows we developed the retracement analysis below, showing a number of barriers the pair needs to break in order to gain any momentum to the topside (highlighted below). The 100 hour simple moving average is also providing good resistance on recent retracement attempts.

Forex Trading - Sterling Yen Trading Heavy

Alex Chernomordin — Tue, 12 Aug 2008 05:19:08 -0400

With inflationary reports out of the UK unable to rally the Sterling against the USD or JPY, it is becoming more apparent that other factors, regarding slowing growth in the UK, are weighing heavily on investors minds. Reviewing the GBP/JPY pair during today's trading session we notice a very active 175 pip range, however the pair has not been able to cross above the 61.8% retracement level. As the 50 (4hour) moving average has crossed below the 200 (4hour) moving average today, the sentiment continues to be negative on Sterling with a full retracement to the 7/16 lows well in range today.

Forex Trading - GBP/JPY 15 Minutes at a Time

Alex Chernomordin — Mon, 04 Aug 2008 05:50:47 -0400

Reviewing the Sterling Yen chart below, we examined a Fibonacci retracement utilizing the highs and lows of the prior week on a 15 minute chart. The pair is currently trading between the 50 and 200 day moving averages, as it straddles the 23.6% retracement level. Yen weakness has prevented the pair from selling off as much as other Sterling crosses this session. It will be interesting to see if the pair can retrace last weeks levels, with the negative sentiment in regards to UK economic woes spreading in the market place.

Forex Trading - GBP/JPY Slipping Back?

Alex Chernomordin — Wed, 30 Jul 2008 06:38:12 -0400

The GPB/JPY pair has come off highs last seen in January of 2008. With the Sterling under some pressure ahead of the UK Consumer Confidence release, below we examine the possible retracement levels since the last Bank of England interest rate reduction on April 10th of 2008 (5.25% >5.0%) and the highs made last week. The pairs volatility is well noted with the price fluctuations on the chart below, and the retracement levels could provide support in the longer term if a move down is in the cards for the Sterling.

Forex Trading: GBP/JPY Trading in a Tight Range into BOE Rate Decision

Alex Chernomordin — Thu, 10 Jul 2008 05:35:00 -0400

The Sterling Yen has been trading in a relatively tight range along the 50 / 100 / 200 day moving averages. Heading into Bank of England's rate decision today, there could be an opportunity for the currency pair to break the tight range in the next few days, if the possibility of rate move after this meeting becomes more likely.

Forex Trading: GBP/JPY can't find a bid in the whole market as GBP is offered & JPY paid across the board...

Michael FX — Mon, 02 Jun 2008 03:59:23 -0400

GBP/JPY can't find a bid in the whole market as GBP is offered & JPY paid across the board.

Forex Trading: GBP/JPY getting a nice bounce as well, following its component...

Michael FX — Fri, 30 May 2008 05:30:21 -0400

GBP/JPY getting a nice bounce as well, following its component. GBP/JPY has been offered pretty thoroughly and looks right now to be shorts covering in the market.

Forex Trading: GBP/JPY rejected at its upper point of channel resistance in London...

Michael FX — Fri, 23 May 2008 06:22:50 -0400

GBP/JPY rejected at its upper point of channel resistance in London. Though comparatively, for GBP/JPY moves, the move following was rather benign as its component refused to give ground.

Forex Trading: GBP/JPY blasting through the down trend line shown though its component is mixed...

Michael FX — Wed, 21 May 2008 06:00:12 -0400

GBP/JPY blasting through the down trend line shown though its component is working its way up to the trendline mentioned in previous post.

Forex Trading: GBP/JPY sliding a little lower as we see some JPY bids...

Michael FX — Mon, 19 May 2008 05:31:13 -0400

GBP/JPY sliding a little lower as we see some JPY bids. Although at this point, the legs of both GBP/JPY & EUR/JPY are not moving impetuous enough to create any moves that London wants to commit to.