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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Thursday, 11 March 2010 06:33
EURJPY
EURJPY closed @ 12365 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 12400 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 Bulls gave up mildly towards the Close. The Hourly Trend has been Creeping Lower with no Clear Direction ,12370-12400 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 suggests that JPY is Strong against most Crosses . EUR is Flat with a Weak Bias and JPY is also Flat with a Strong Bias , so both the Cross may lead the EURJPY lower slowly but may be limited.
BULLS: 12265 12230 12190 BEARS: 12395 12485 12530
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
GBPJPY
GBPJPY closed @ 13560 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 5 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 Sideways while 13615 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 Bulls gave up mildly towards the Close. The Hourly Trend has been Creeping Lower with no Clear Direction ,13570-13615 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 suggests that JPY is Strong against most Crosses . GBP is Flat with a Weak Bias and JPY is also Flat with a Strong Bias , so both the Cross may lead the GBPJPY lower slowly but may be limited.
BULLS: 13495 13435 13380 BEARS: 13595 13665 13705
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
AUDJPY
AUDJPY closed @ 8285 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Down while 8330 holds and Daily Trend is Sideways Up while 8000 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior day's High but the Bulls gave up mildly towards the Close. The Hourly Trend has been Creeping Lower with no Clear Direction ,8295-8330 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 suggests that JPY is Strong against most Crosses . AUD is Flat with a Weak Bias and JPY is also Flat with a Strong Bias , so both the Cross may lead the AUDJPY lower slowly but may be limited.
BULLS: 8185 8125 8080 BEARS: 8295 8330 8400
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only