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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Friday, 05 March 2010 06:45
EURJPY
EURJPY closed @ 12090 which was BELOW the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Tgt 1 and the Low was 15 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Turning Bullish and the price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 11960 holds and Daily Trend is also Sideways while 12385 holds, so expect the price to be Choppy with a Upside bias. 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 ,12030-11960 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 Weak Bias and JPY is also Flat with a Weak Bias , so both the Cross may lead the EURJPY nowhere until one of the Cross breaks out of the Range.
BULLS: 12060 12020 11955 BEARS: 12140 12220 12275
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
GBPJPY
GBPJPY closed @ 13385 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the price is Within the MA, so the Bears have to be sidelined. Hourly Trend is Sideways while 13320 holds and Daily Trend is also Sideways while 13850 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend was within prior day's Range and with the Bulls gaining mildly towards the close. The Hourly Trend has been in a Range Trading with no clear direction ,13350-20 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 . GBP is Flat with a Weak Bias and JPY is also Flat with a Weak Bias , so both the Cross may lead GBPJPY nowhere until one of the Cross breaks out of the Range.
BULLS: 13350 13265 13200 BEARS: 13485 13560 13640
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 UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Sideways while 7945 holds and Daily Trend is also Sideways while 8225 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend was within prior day's Range and closed unchanged towards the close. The Hourly Trend has been in a Range Trading and expect the Bulls to struggle near 8050-85 levels ,7970-45 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 with a potential to test the Highs . The Opening price principles are mixed so Cautious approach is needed until the Break . AUD and JPY are Flat with a Mixed Bias , so both the Cross may lead AUDJPY nowhere until one of the Cross breaks out of the Range.
BULLS: 7975 7935 7900 BEARS: 8050 8120 8150
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only