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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Monday, 08 March 2010 06:05
EURJPY
EURJPY closed @ 12290 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 3 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Sideways Up while 12225 holds and Daily Trend is Turning Up while 12030 holds, so expect the price to make Higher Highs. The Daily Trend Rallied and breached the prior few day's High with the Bulls holding their gains towards the Close. The Hourly Trend has been in a Range Trading with an Upside Bias ,12260-25 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the gradual Up Channel and the patterns are suggesting higher highs are expected provided 12265 holds. The Opening price principles suggests that JPY is Weak against most Crosses so today may be a Bulls day . EUR is Strong and JPY is Flat with a Weak Bias , so both the Cross may lead the EURJPY higher.
BULLS: 12265 12180 12105 BEARS: 12420 12465 12530
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 12320 12265 with a tight stop with a 50 pips price target.
GBPJPY
GBPJPY closed @ 13665 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 10 and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Sideways Up while 13610 holds and Daily Trend is Turning Up while 13200 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend Rallied and breached the prior few day's High with the Bulls holding their gains towards the Close. The Hourly Trend has been in a Range Trading with an Upside Bias ,13660-10 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the gradual Up Channel and the patterns are suggesting higher highs are expected provided 13630-10 holds. The Opening price principles suggests that JPY is Weak against most Crosses so today may be a Bulls day . GBP is mildly Strong and JPY is Flat with a Weak Bias , so both the Cross may lead the GBPJPY higher.
BULLS: 13660 13570 13520 BEARS: 13805 13930 14060
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 13700 13630 with a tight stop with a 50 pips price target.
AUDJPY
AUDJPY closed @ 8190 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Dly Level and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Sideways Up while 8120 holds and Daily Trend is Turning Up while 7820 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend Rallied and breached the prior few day's High with the Bulls holding their gains towards the Close. The Hourly Trend has been in a Range Trading with an Upside Bias ,8165-20 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the gradual Up Channel and the patterns are suggesting higher highs are expected provided 8120 holds. The Opening price principles suggests that JPY is Weak against most Crosses so today may be a Bulls day . AUD is mildly Strong and JPY is Flat with a Weak Bias , so both the Cross may lead the AUDJPY higher.
BULLS: 8160 8080 8050 BEARS: 8280 8315 8390
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 8215 8165 with a tight stop with a 50 pips price target.