Quick Update (Sorry for lack of update lately)

Currently, been busy the past week and down with the flu. I won't be able to make an update here until after Christmas (doctor's and family's orders). I hope I will be able to continue to post market profile summary of the pair (with back posts too) starting December 28, 2015.

I apologize for not being able to update the blog with the latest daily and weekly summary of  the pair.

GBPJPY [2015.12.11] & [2015.12.07 - 2015.12.11]Summary

 Summarizing the week, we saw this pair dropping down and bouncing up from the 183.50/183.70 DP and bouncing down again 184.70/184.90 DP. Even with the dovish news regarding the monetary policy for the pound it was still wasn't enough to push the pound down and break the 183.50/183.70 DP. In the 1 hour chart the pair seems to re-climb up bit by bit upon the close (ADX and Stoch also shows this). However, in the daily charts below we could see that the pair is slowing inching downard, but if we look back from previous data we could see that the 183.50/183.70 DP is a significant resistance area. If the pair breaks down the current DP we could see 182.40/182.60 DP being tested and probably would go back down to 180 area.

Historical Decision Points (DP) Recalculated:
Note: Will try to re-adjust my code for calculating DP to use pip increments of 5 instead of 10 for more accuracy. But it probably will slow down my process.

185.40 /185.60
185.10 /185.30
184.70 /184.90
184.20 /184.40
183.50 /183.70
182.40 /182.60

Legend:
Green: Upper DP (area that needs to be broken for further upside movement)
Orange: Current Area the price is near
Red: Lower DP (area that needs to be broken for further downside movement)

Daily Info

Decision Points(DP): 184.80/184.90

Daily High: 185.04
Daily Low: 183.55

Daily Close : 183.90

Pivot Point, Resistance and Support
 Pivot Point       184.16
 R1      184.78
 R2      185.65
 R3      186.27
 R4      187.14
 S1      183.29
 S2      182.67
 S3      181.80
 S4      181.18

Weekly Info

Decision Points(DP): 186.20/186.30
184.40/184.50

Weekly High: 186.33
Weekly  Low: 183.35

Weekly Close : 183.90

Pivot Point, Resistance and Support
 Pivot Point       184.53
 R1      185.70
 R2      187.51
 R3      188.68
 R4      190.49
 S1      182.72
 S2      181.55
 S3      179.74
 S4      178.57

GBPJPY [2015.12.10] Summary

[Caveat Emptor]

Even with a dovish news on the pair (same expected votes and decision not to increase rate), the pound took a nose dive against the yen but bounced up again from it (DP 183.50/183.70 area was tested but bounced back up again). For the past 3 days (after the drop from last Tuesday, December 8, 2015), we've seen the pair dipping down to try to test the 183.50/183.70 DP and then bounced up again up and testing the 184.60/184.75 DP. So far the pair has been consolidating in that area, and in the Asian session right now it seems to want to try to test the 184.60/184.75 DP again.

With the pair consolidating within the two DP range, we'd better take precaution on  trading it. Buy or Sell from the bounces, and watch out for possible breakouts.

For Bulls:
For further uptrend the pair needs to break the 185.10/185.30 area and stay give a stronger trend signal that the bulls are now in control.

For Bears:
A decisive break of the 183.50/183.70 DP would indicate that the pair would go down some more and target the next DP (182.40/182.60)

2015.12.10 DP
184.70
184.40


Historical DP
185.40/185.60
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60



Daily Pivot
184.18

Resistance and Support
 R1      185.01
 R2      185.79
 R3      186.62
 R4      187.40
 S1      183.40
 S2      182.57
 S3      181.79
 S4      180.96

GBPJPY [2015.12.09] Summary

[Caveat Emptor]

 GBPJPY [2015.12.09] Profile

2015.12.09 (Decision Point):
184.80/184.90
184.40/184.50

Current Areas To Consider (Historical Decision Points [DP]):
186.60/186.80
186.10/186.25
185.40/185.60
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60

Daily Pivot
184.54

Daily Support and Resistance
 R1      185.39
 R2      186.23
 R3      187.08
 R4      187.92
 S1      183.70
 S2      182.85
 S3      182.01
 S4      181.16

GBPJPY [2015.12.08] Summary

[Caveat Emptor]

GBPJPY

GBPJPY [2015.12.08] Profile

Current Areas To Consider (Decision Points [DP]):
186.60/186.80
186.10/186.25
185.40/185.60
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60

Daily Pivot
184.64

Daily Support and Resistance
 R1      185.53
 R2      186.64
 R3      187.53
 R4      188.64
 S1      183.53
 S2      182.64
 S3      181.53
 S4      180.64

GBPJPY [2015.12.07]Summary

[Caveat Emptor]
GBPJPY

Current Areas To Consider (Decision Points [DP]):
186.60/186.80
186.10/186.25
185.40/185.60
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70


GBPJPY [2015.12.07] Profile

Daily Pivot
185.82


Daily Support and Resistance
 R1      186.20
 R2      186.70
 R3      187.08
 R4      187.58
 S1      185.32
 S2      184.94
 S3      184.44
 S4      184.06

GBPJPY [2015.12.04] and [11.30 - 12.04] Summary

[Caveat Emptor]
GBPJPY

Thursday's EURO news pushed the pound pairs up and the lackluster effect of the USD's NFP (positive NFP values), shows that a lot of traders and investors are looking forward if the Fed would be increasing rates or not. Currently, the pair is playing between the 186.10/186.25 and the 185.40/185.60 DP. We might see the pair testing both DPs and move either up/down depending on which DP it might break. IMHO, the pair is looking to be a bit bullish for now.

For Bulls:
Break of the current DP (186.10/186.25) and we target 186.60/186.80  DP further upside would mean bulls are riding the momentum from the last week's news and we might see 188 area again.

For Bears:
Currently, the pair is consolidating in the 186.10/186.25 DP. The pair might meet a slightly heavy resistance at the 185.40/185.60 area (due to last Friday's DP). Breaking this area would mean that the bears are ready to take control and we could target the next DP  185.10/185.30 area.


Current Areas To Consider (Decision Points [DP]):
188.10/188.30
187.60/187.80
187.30/187.40
186.60/186.80
186.10/186.25
185.40/185.60
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70

 GBPJPY [2015.12.04] Profile
Daily Pivot

185.76

Daily Support and Resistance
 R1      186.42
 R2      186.88
 R3      187.54
 R4      188.00
 S1      185.30
 S2      184.64
 S3      184.18
 S4      183.52

GBPJPY [11/30 - 12/04] Profile
Weekly Pivot (2015.11.30 - 2015.12.04)

185.38

Daily Support and Resistance
 R1       186.80
 R2       187.66
 R3       189.08
 R4       189.94
 S1       184.52
 S2       183.10
 S3       182.24
 S4       180.82

GBPJPY [2015.12.02] Summary

[Caveat Emptor]
GBPJPY

With the lackluster news from yesterday, bears took control of the pair. Currently we are looking at a daily resistance and a current DP level that the pair is trading. We'll watch out for the news today for further trend range. Depending on the news result today, we could be seeing the pair target the 2nd DPs for either long or short.


For Bulls:
Break of the current DP (184.10/184.30) and we would look at an initial target of 184.60/184.75 and if the result of the news today favors the bulls we would see it retest an target 185.10/185.30 DP.


For Bears:
A break of the 184.10/184.30 area would give us a target of the next DP (183.50/183.70). If the news favors the bears we could look at the pair targeting 182.40/182.60 DP next.


NEWS:

Dec 3
GBP        Services PMI

Current Areas To Consider (Decision Points [DP]):
186.60/186.80
186.20/186.30
185.60/185.80
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60
181.50/181.70

Daily Pivot

184.63

Daily Support and Resistance
 R1      185.31
 R2      186.30
 R3      186.98
 R4      187.97
 S1      183.64
 S2      182.96
 S3      181.97
 S4      181.29

GBPJPY [2015.11.30] Summary

[Caveat Emptor]
GBPJPY

Seems, the pair has current broken the current down trend from last week. Currently, the pair has crossed above the 60- Simple Moving Average (1 hour chart) [pair is still below the 200 SMA] and  is currently above the ichimoku cloud of the 1 hour chart to confirm bullish trend in the 1 hour chart. However, we should be watch out for a slight correction since the pair is nearing the overbought levels in RSI(10).

Beyond that we should be wary on the swings of the pair since there are some major news on the pair today.






For Bulls:
The pair tested the DP 185.60/185.80 and was rejected. We'd see today if it will test this DP again and be able to break it. Once broken we'd look for our next DP for our initial TP. But for longer term I'm looking to target 189 at the moment.


For Bears:
A break of the 185.10/185.30 area would give us a target of the next DP (184.60/184.75). If it breaks the second DP the pair might meet a bit of resistance at the 184.10/184.30 area since the pair got rejected twice in that area last Friday (1 hour chart).

NEWS:

Dec 1
GBP        Bank Stress Test Results
GBP        BOE Financial Stability Report
GBP        BOE Gov Carney Speaks
GBP        Manufacturing PMI

Current Areas To Consider (Decision Points [DP]):
186.60/186.80
186.20/186.30
185.60/185.80
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60


Daily Pivot

185.10

Daily Support and Resistance
 R1      185.10
 R2      185.74
 R3      186.17
 R4      186.81
 S1      184.03
 S2      183.60
 S3      182.96
 S4      182.53