Members login
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Thursday, 04 March 2010 06:25
EURJPY
EURJPY closed @ 12115 which was ABOVE the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 11960 holds and Daily Trend is also Sideways while 12385 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior day's Range and the market closed unchanged. The Hourly Trend has been in a Range Trading with no clear direction ,12065-11960 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the Horizontal Channel and the patterns are suggesting a Choppy session until the break. The Opening price principles are mixed so Cautious approach is needed until the Break . EUR is Flat with a mixed Bias and JPY is also Flat with a mixed Bias , so both the Cross may lead the EURJPY nowhere until one of the Cross breaks out of the Range.
BULLS: 12045 11980 11920 BEARS: 12165 12205 12270
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
GBPJPY
GBPJPY closed @ 13355 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 13550 holds and Daily Trend is also Sideways while 13850 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior day's Range and with the Bulls giving up mildly towards the close. The Hourly Trend has been in a Range Trading with no clear direction ,13455-13550 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the Horizontal Channel and the patterns are suggesting a Choppy session until the break. The Opening price principles are mixed so Cautious approach is needed until the Break . GBP is Flat with a mixed Bias and JPY is also Flat with a mixed Bias , so both the Cross may lead GBPJPY nowhere until one of the Cross breaks out of the Range.
BULLS: 13295 13200 13100 BEARS: 13395 13490 13550
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
AUDJPY
AUDJPY closed @ 8010 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the price is Below the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Down while 8050 holds and Daily Trend is Sideways while 8185 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend was within prior day's Range and the Bears gave up mildly towards the close. The Hourly Trend has been creeping lower and expect it to continue in this direction ,8035-50 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the Horizontal Channel and the patterns are suggesting a Choppy session with lower lows . The Opening price principles are mixed so Cautious approach is needed until the Break . AUD is Weak and JPY is Flat with a mixed Bias , so AUD may lead AUDJPY lower slowly.
BULLS: 7970 7900 7870 BEARS: 8040 8110 8135
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 8020 8040 with a tight stop with a 50 pips price target.