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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Friday, 12 March 2010 05:50
EURJPY
EURJPY closed @ 12380 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 5 pips from 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 12315 holds and Daily Trend is Sideways Up while 12030 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend was within prior day's Range but the Bulls gained mildly towards the Close. The Hourly Trend has been in a Range Trading with a limited Upside ,12350-15 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 a Choppy Session with an Upside Bias. The Opening price principles are mixed so Cautious approach .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 breakout of the Range.
BULLS: 12370 12315 12245 BEARS: 12430 12475 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 @ 13630 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was 5 pips from Precise Trader's Sup Tgt 1. 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 Sideways while 13550 holds and Daily Trend is Sideways Up while 13240 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend breached the prior day's High and the Bulls were holding on their gains till the Close. The Hourly Trend has been in a Range Trading with an Upside Bias,13595-50 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 a Choppy Session with an Upside Bias. The Opening price principles are mixed so Cautious approach. GBP is Flat with a Mixed Bias and JPY is also Flat with a Mixed Bias , so both the Cross may lead the GBPJPY nowhere until one of the Cross breakout of the Range.
BULLS: 13625 13550 13485 BEARS: 13700 13775 13835
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 UNCHANGED from 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 5 pips from 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 8225 holds and Daily Trend is Sideways Up while 8050 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior day's Range and closed Unchanged towards the Close. The Hourly Trend has been in a Range Trading with a limited Upside , 8260-25 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 a Choppy Session with an Upside Bias. The Opening price principles are mixed so Cautious approach . AUD is Flat with a Mixed Bias and JPY is also Flat with a Mixed Bias , so both the Cross may lead the AUDJPY nowhere until one of the Cross breakout of the Range.
BULLS: 8270 8225 8175 BEARS: 8340 8375 8405
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only