just because you asked, I'll draw a chart for you over the weekend.

Dragon Riders GBP/JPY

And, as suspected for many days, 151.8 was effectively a do not pass zone

Dragon Riders GBP/JPY

If I'm right, that final move down could be fairly fast and recover just as quickly. If I'm wrong, it'll just dump. A dump would say that UJ is moving up in three waves and not straight up.

Dragon Riders GBP/JPY

Former low taken out and 151.95 trying to hold. Am not in bear camp until sustained loss of 151.5/6. Still thinking broader expanding triangle in this area, with 1st move (a) being the drop 152.6~151.7 (90 pips). Very very messy B wave made new high ...

Dragon Riders GBP/JPY

152 held. Testing 152.24/25 now. If that is positive, 152.3/5 comes back.

Dragon Riders GBP/JPY

And.. after a fallback, central pivot 152/152.1 appears to hold. Break 152.5 for 153.1/2. Offering the opposite argument, though, loss 152 and about 151.8 could bring a significant fall. Personally prefer upside.

Dragon Riders GBP/JPY

Heads up to those folks who think its bearish....should not pass 152.4 or worst case 152.5 if that is to be the case.

Dragon Riders GBP/JPY

151.5/6. Must clear 151.7 ~9 to continue bullish. Whole previous down move mid point is circa 152.2, above which suggests more up, although has to clear 153x. Failure around there might point to a longer term consolidation in this area such as a ...

Dragon Riders GBP/JPY

And today's magic numbers are brought to you by the numbers 1 5 1 and 2

Dragon Riders GBP/JPY

At 151.3/150.9 convergence of support. Break under there for 150.2/5 central pivot area. Below 149.4 confirms down in reversal to 143.3. Bounce there might only retest 150.3 (by then descending tl 156.3/153.8. That would suggest a run back under 135 ...

Dragon Riders GBP/JPY

Got some pretty textbook triangle/diamond stuff going on here. Anything above 152.8, triangle break around 153.1/2. Diamond centre 153.4/5. Break 153.8 for 154.2/3 next. Obviously must get over 152.8 first, otherwise under 152 , 151.6 or so comes ...

Dragon Riders GBP/JPY

Am still reluctant to long it yet, as a similar process happened in 2013. .... and in now

Dragon Riders GBP/JPY

Get over 153.6 and in any case 153.8, then 154.25, suspect a very bullish window is opening to at least 155.5/7 and possibly running right through 156.3

Dragon Riders GBP/JPY

No aggression or criticism intended in the slightest. Just stating the facts as they appear. And, you are right that 154 ish is a big deal (although I had concerns about 153.5/6 earlier. In any event, over 154 or so opens to something possibly big - ...

Dragon Riders GBP/JPY

Maybe you should go back before 2017. Maybe go back, just for heck of it, say, 20 years. In all honestly, should the current level not hold at next open, then 151.8 is back. If it does hold, then it (a) either breaks 153.8 (76% correction level), or ...

Dragon Riders GBP/JPY

WTF?

USD/JPY Discussion

Was a very long and messy cup, but suspect now rising up the right side (as in right hand side) of the handle. Handle retrace was near enough to 38%. Should it continue up (either directly or a little messy) would expect marginal new high, followed ...

Dragon Riders GBP/JPY

This is always the area where you get fall-backs, but the end result is usually a decent move up. 152 on Sep 13 2013 was the launch level upon BOJ's first easing. Kuroda San has threatened more of that twice now in 2 days. This level has had ...

Dragon Riders GBP/JPY

image Can only draw elipses. Cup/handle structure. Handle retraced 38%. Currently at 50% up the cup formation. Any break up possibly follows blue line. Failure means broader cup. Break up should eventually retest falling line after rising to ...

Dragon Riders GBP/JPY

Just means it stood still @ went nowhere. Like holding down a rocket on the pad. Anticipate a retest around 151.1/2 before higher

Dragon Riders GBP/JPY