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