I got sell orders @ 117.50 for usd/jpy. Eur/jpy already shorted. but i think I was too early. as for Gbp/usd, sold @ 1.8695. (stop hunting). my long trem view is quiet bullish. however as for now. it seems the weakest of all dollar pair and I think we would see 1.8500 before any meaningful upside move.
Yasir.
I can see these being boring trades that never reach stop and never reach target, just leave us hanging there costing interest! One trade is in profit, one isn't. I may close the short Eur/Jpy if it doesn't break 149 and add to the short $/Yen (averaging, nooo, not me! I'm 'scaling in'!)
So GBP move started without the retracement expected, stopped me at breakeven, now I am back on short side of the story.
If this is a true breakout, then the next expected target are 8550, 8500 and finally 8305. It is now highly likely that GBPUSD will get to 8300 during the present week.
Seems like cable did consolidate at the weekly uptrend line which was also 50% ret of the move up started in April.
Yesterday has formed a doji at that area which turned out to be important, so if price breaks above yesterday's high, I expect a move up until the 38% ret from last week's down rally which is also the (2) point of the weekly 1-2-3 top.
It wasn't really a complete breakout and price did not close the day below 8630, and has now formed a small double bottom. It now seems that the down trend may continue after a retracement to 8770/8760.
Don't know why (could be wrong) but I am getting the feeling that before resuming the down move, the market will spike back once more upward on today's fed talk, to stop those who are already short and then will take the next directional move down.
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). my long trem view is quiet bullish. however as for now. it seems the weakest of all dollar pair and I think we would see 1.8500 before any meaningful upside move. 
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