GBP/JPY Daily Levels

[dannybly]

Looking at the daily GBP/JPY we can see that we are trading close to support at the 38% fibonacci level and Senkou Span Line.

We are bullishly trading above the Kumo (cloud) and we received a normal strenth buy signal when the Tenkan-Sen crossed above the Kijun-Sen from below within the Kumo.

The signal would have been stronger if the crossover had taken place above the Kumo.

To the upside we have major resistance at the 50% retracement level, 216.63.

[4xStar]

Hey danny, can you also post this in the Ichimoku thread, we are talking mostly about the G-Y over there .. sounds like you know a lot about IKH

[Andrewunknown]

Looking at the daily GBP/JPY we can see that we are trading close to support at the 38% fibonacci level and Senkou Span Line.

We are bullishly trading above the Kumo (cloud) and we received a normal strenth buy signal when the Tenkan-Sen crossed above the Kijun-Sen from below within the Kumo.

The signal would have been stronger if the crossover had taken place above the Kumo.

Something important to keep in mind is that Oanda's default IKH settings are not the traditional 9, 26, 52. As an example of how that can vary results: per 9, 26, 52 settings, the Tenkan/Kijun cross on May 23 did occur above the Kumo. Also, the bottom-up Kijun cross occurred on May 22 above the Kumo.

As 4xstar mentioned, Danny, you should stop by the new IKH thread in the Swing Trading strategy section of the forum. Not much activity yet, but the thread has just begun.

[trav72]

Didnt want to clog Jebs space, but was wondering maybe someone here can explain what does Jeb mean by BSTS

[martin01]

The currency pair GBP/JPY is looking better. Can trade in this pair.

[mtasoc]

Hello: December 6, 2009

Does anyone have the answer for average pip range of GBP/JPY for each trading day of the week?
Thanking in advance.

mtasoc