If it falls out of here, the e wave finished at 162.5. And any fall might be fast. And deep. Yet the upside could be equally fast

Dragon Riders GBP/JPY

what's the prize? ... bullish

Dragon Riders GBP/JPY

The last BOJ intervention was October 31, 2011

Dragon Riders GBP/JPY

url So far. As long as 161 holds. But, then again, you all knew this didn't you?

Dragon Riders GBP/JPY

Ideally it gets picked up around 161.5/7. Otherwise....

Dragon Riders GBP/JPY

Mainly on yen. Sometimes gu also works, but yen pairs daily, weekly and monthly work best. At this time price is over the half way in the daily cloud. Last time it breached the daily cloud but couldn't sustain. Hence my warning that if it fell below ...

Dragon Riders GBP/JPY

Or, as I mooted before, what you (and everyone else would interpret similarly) draw as c and d were waves 1 and 2 respectively and this is but 1 of 3, currently tracking down for only 4 of 3 of 1. And the whole thing masquerades as a triangle. We ...

Dragon Riders GBP/JPY

Of course, a total inability to hold here and a loss of 158 turns the equation around totally and suggests the last 61 days has been a b wave in a declining wedge, with the fall to 154.7 having been only the first, or 'a' wave.

Dragon Riders GBP/JPY

Or it's in a wide diamond continuation pattern, with another move up to fail 161.2/3, before falling back to untested support around 159.3/4. As per May 2015.

Dragon Riders GBP/JPY

That was the initial breakout from the consolidation that commenced May 10. Over the next few hours, it should fall back very slowly to retest breakout and the move from there will be the big decider. Thus far with that move, the consol height is ...

Dragon Riders GBP/JPY

The way you drew it makes absolute sense, however as both the lows and this correction ran as rounded bottoms, for some strange reason the correction that looks like a 4 often acts more like a 2. These things can fail, but break up would be over ...

Dragon Riders GBP/JPY

Could be a simple cup/handle formation. If no recovery over 157x, the handle could round, with breakout over 158 some 24hrs from now. Under 154.5 it's stuffed.

Dragon Riders GBP/JPY

Last time broken by BOJ in their first 'easing' image

Dragon Riders GBP/JPY

Quoting lancedes Please would you explain in a bit more detail what you mean by this? Thanks in advance. In October 2015, when the pair was at 185, a chap from Morgan Stanley said that it was the most overvalued pair in forex. He expects it to dive ...

Dragon Riders GBP/JPY

Yes, it would be relevant. I'll post more stuff over the next couple of days, but suffice say that when the pair was down below 118, the next support was clearly in the 105 area. Whilst most pundits were of the opinion that 100 would never break, ...

Dragon Riders GBP/JPY

Some folks here would be aware as to how I identify supports and resistances in a 'graphic' format. As a small matter of interest, this place here if the precise spot where, not only would the moves from 174 - 196 (starting 2013) end, but, of even ...

Dragon Riders GBP/JPY

Now this is just getting stupid. Gj threads tend to be a bit above the average in terms of commentary and analysis, but this just scrapes the lows.

Dragon Riders GBP/JPY

I still hold to my view that 151.7/152 was a bottom for the pair. I also hold to my view that the move to fail 162x was the first move up (wave 1) and the subsequent drop was corrective, as in wave 2. Obviously a fall out of 152 destroys my ...

Dragon Riders GBP/JPY

Of Cable, I suspect its about to finish .... or start.

Dragon Riders GBP/JPY

but what if GU has actually already broken up over res/now support. In that case, it could go ... and go

Dragon Riders GBP/JPY