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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 10 March 2010 06:34
EURJPY
EURJPY closed @ 12235 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Corrective Down while 12285 holds and Daily Trend is Turning Up while 11970 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior two day's Range but the Bears gave up, half of their gains towards the Close. The Hourly Trend has been in a Range Trading with no clear direction ,12285-12340 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 . 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.
BULLS: 12190 12130 12100 BEARS: 12285 12340 12380
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
GBPJPY
GBPJPY closed @ 13490 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Hrly Level and the Low was 20 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Corrective Down while 13570 holds and Daily Trend is Turning Up while 13200 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior two day's Range but the Bears gave up, half of their gains towards the Close. The Hourly Trend has been in a Range Trading with no clear direction ,13545-70 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 Weak Bias and JPY is also Flat with a Weak Bias , so both the Cross may lead the GBPJPY nowhere until one of the Cross breaks out.
BULLS: 13445 13385 13345 BEARS: 13545 13590 13635
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
AUDJPY
AUDJPY closed @ 8225 which was ABOVE 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 Tgt 2. The Hourly Oscillators are Bullish but Weak and the price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Corrective Up while 8185 holds and Daily Trend is Turning Up while 7925 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend was within prior two day's Range but the Bears gave up, all their gains towards the Close. The Hourly Trend has been in a Range Trading with an limited Upside Bias , 8200-8185 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 break higher . The Opening price principles are mixed so Cautious approach is needed until the break . AUD is Flat with a Strong Bias and JPY is also Flat with a Weak Bias , so both the Cross may lead the AUDJPY higher slowly.
BULLS: 8185 8125 8080 BEARS: 8250 8315 8375
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only