Members login
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Monday, 15 March 2010 06:49
EURJPY
EURJPY closed @ 12470 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 Sideways while 12360 holds and Daily Trend is Sideways Up while 12145 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior day's High but the Bulls gave Up mildly towards the Close. The Hourly Trend has been in a Range Trading with no Clear Direction ,12415-12360 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 .EUR has been Showing Mild Weakness and JPY is Flat with a Mixed Bias , so EUR may lead the EURJPY Higher Slowly provided it breaks higher.
BULLS: 12370 12330 12275 BEARS: 12525 12565 12610
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
GBPJPY
GBPJPY closed @ 13770 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Tgt 3 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 13665 holds and Daily Trend is Sideways Up while 13240 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior day's High but the Bulls gave Up mildly towards the Close. The Hourly Trend has been in a Range Trading with no Clear Direction ,13685-65 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 . GBP has been Showing Mild Weakness and JPY is Flat with a Mixed Bias , so GBP may lead the GBPJPY Higher Slowly provided it breaks higher.
BULLS: 13715 13615 13585 BEARS: 13815 13915 13955
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
AUDJPY
AUDJPY closed @ 8295 which was UNCHANGED from 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 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 8215 holds and Daily Trend is also Sideways while 8125 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend breached the prior day's High but the Bulls gave Up all the gains and closed Unchanged towards the Close. The Hourly Trend has been in a Range Trading with no Clear Direction ,8250-15 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 .AUD and JPY are Flat with a Mixed Bias , so both the Cross may lead the AUDJPY nowhere until one of the Cross break out of the Range.
BULLS: 8255 8185 8155 BEARS: 8355 8410 8460
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only