Forex Trading Signals/Analysis for GBP/JPY (Wk Strt 25/05/08)

Posted by Nick 22 Comments

Hey Guys,

Here is the weekly analysis for GBP/JPY this week. We only have a few scalp lines but if we start to get soem momentum some support and resistance lines will definitely come into play. If we get no momentum this week I will start trading NZD/JPY and EUR/JPY until this GBP/JPY slow down is over. There is only so much ranging I can deal with before I start to look at other pairs.

Watch the vid below for the detailed analysis, good luck this week guys.

Tags: forex, forex analysis, forex profit, forex trading, forex trading education, free forex education, free forex signals, gbp/jpy, scalp line, scalp lines, strt, trade update, weekly analysis

adam

Why do u add the 205.49 line?
Mark

Hey Nick,
Thanks again for all the help!
O’Zeeke

Really appreciate all this Nick
skipw

Thanks Nick for clarifying when a S/R line becomes valid again.
LearningToPimpPips

Adam

In the forum, Nick has posted that this line was a mistake and not intended to be there.

Post #290 in the primary GBP/JPY trade thread.

http://www.forex4noobs.com/forums/showthread.php?p=10108&posted=1#post10108
Christopher Silcock

Hi Nick
Thanks for all the help….you’re great
christopher
luigi

Thanks Nick I got the 206,55 today closed like a normal scalp 50 pips instead of the 30 pips in the analysis because the movement had a lot of momentum
kk

Went long @206.57…closed @206.84….27 pips profit …but man its just shooting up…Nice call Nick
Mike

closed first half 52 pips
second still in
also on eur/jy, same deal
kathy

i have 209 as the next s/r line
LearningToPimpPips

Made 42 pips on the 206.54 scalp line.
tamiraem

what are you doing with NZD/JPY
Steve

Thanks for your help Nick!! made a few pips on the break of the 206.54

Looking forward to the next blog.
Mike

I have a question for Nick: Do you think that would still be a good entry the 209.01 level for a long and if that so how should be treated this line?

Have a nice day!
gerardo

what do you think we may do at 209.01?
kk

I have the same question too Nick……about the 209 level
admin

kk »

209.00 is a usable S+R line you guys should really check out the forum more often we are constantly discussing GBP/JPY and upcoming trades.
kk

ok…thanks Nick
Mike

209 broke! Now???!!! Very interesting!!!
adam

it is an obvious lost for all traders
adam

I already have this feeling that 209.00 line is not strong because of the repeated bounces it have…..and it hit on friday which is the day the market close…..so i think traders should not even enter this trade
admin

adam »
Obviously a lost…… not quite, I have mentioned many times on this blog and on the forum that YOU DO NOT TRADE THE LAST 4 CANDLES ON A FRIDAY and YOU DO NOT EVER HOLD POSITION OVER THE WEEKEND. We spoke about this on the forum on Friday only 1 person entered that trade on the forum and that was because it was an auto entry. Nobody else entered because I have mentioned 100 times that you do not trade Fridays.