Hi Wolf, looks like we are seeing the same things. After yesterday's action I was thinking the high was already in at 235.50, which the bulls have attempted to break for the past two weeks. But now I am back to thinking the 238 region will print ...

Daily GBP/JPY analysis

How low do you think the DOW is going? Getting below 11000 is going to be very difficult from what I can see. Anything below 9000 and the word depression springs to mind.

Auslanco - GBP/JPY and GBP/USD (newstrade)

OK, sounds good. I had a low of 221 although that was on the condition that 238 printed. Seeing that 235 is probably the high for now, 219 looks like a good target to me.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Does that come up on your indicators? I'm expecting a big one also but I suspect for different reasons. How far is she going?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Hmm, fairly boring day. Though 91 pips on DOW isn't too bad.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Looking to LONG G/J if the upper line breaks (this is the lower channel line from yesterday's chart).

Auslanco - GBP/JPY and GBP/USD (newstrade)

Didn't know that. You were not talking about DOW then?

Auslanco - GBP/JPY and GBP/USD (newstrade)

What is this triple interest thing on Wednesday? I always pay if I hold a DOW long overnight.

Auslanco - GBP/JPY and GBP/USD (newstrade)

That's enough to take one off for +30 and stops are now set to b.e+1 on the other entries. So whatever happens this trade is a winner. I'll close the others later today (assuming they are not stopped).

Auslanco - GBP/JPY and GBP/USD (newstrade)

Come on DOW, up you go my friend!

Auslanco - GBP/JPY and GBP/USD (newstrade)

OK, lets see if DOW turns. I'm in long now with a tight stop.

Auslanco - GBP/JPY and GBP/USD (newstrade)

There is DOW support in 13250 region. Could be a nice long area otherwise reverse and short if support breaks (blue ellipse).

Auslanco - GBP/JPY and GBP/USD (newstrade)

Here is an overnight DOW chart. Time is London so market closed at 21:00 and opens at 14:30.

Auslanco - GBP/JPY and GBP/USD (newstrade)

I wouldn't be surprised if we are now in a summer range. This is not uncommon for this time of year. We'll have to wait until after the holiday period ends before getting some proper movement.

Auslanco - GBP/JPY and GBP/USD (newstrade)

The monthly 5sma is high 238 area.

Auslanco - GBP/JPY and GBP/USD (newstrade)

There is strong resistance at 235 and the bulls have been trying to break it for two weeks now without success. I am wondering whether that is as high as we go before retesting the low.

Auslanco - GBP/JPY and GBP/USD (newstrade)

Looks like we had a strong reaction off the upper support line. I wonder whether there is potential for this to reach the monthly 5sma. It would fit nicely with my plans. Now all we need is another attempt at breaking these support areas.

Auslanco - GBP/JPY and GBP/USD (newstrade)

I can see that the upper trendline was pierced but then price rebounded off it. This could be a normal reaction to the resistance at that level. I will wait and see what happens now. If price breaks the bottom line (upwards) I will re-enter long ...

Daily GBP/JPY analysis

I can see that the upper trendline was pierced but then price rebounded off it. This could be a normal reaction to the resistance at that level. I will wait and see what happens now. If price breaks the bottom line (upwards) I will re-enter long ...

This weeks GBP/JPY Analysis & Predictions

The target is in the 238 region. If the trendline breaks, it will be in the 234 region so a total of 400. I can see lots of resistance at 238.80 so I assume that is where this will reverse. I also believe a retest of the low is due and 238 will be ...

Auslanco - GBP/JPY and GBP/USD (newstrade)