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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 17 March 2010 06:02
EURJPY
EURJPY closed @ 12430 which was ABOVE the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish but Weak and the price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 12350 holds and Daily Trend is also Sideways while 12135 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend breached the prior Day's Low marginally but the Bulls gained quickly and gave Up mildly towards the Close. The Hourly Trend has been in a Range Trading with the Bulls potential to test 12485-12525 levels before any significant move Down ,12390-50 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 is needed until the break . EUR and JPY are both Flat , so both may lead the EURJPY nowhere until the break.
BULLS: 12395 12360 12295 BEARS: 12485 12550 12625
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
GBPJPY
GBPJPY closed @ 13765 which was ABOVE the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Tgt 2 and the Low was 15 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Sideways while 13665 holds and Daily Trend is Sideways Up while 13375 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend breached the prior Day's Low marginally but the Bulls gained quickly and holding their gains till the Close. The Hourly Trend has been in a Range Trading with the Bulls potential to test 13800-20 levels before any significant move Down ,13710-13665 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 is needed until the break . GBP and JPY are both Flat , so both may lead the GBPJPY nowhere until the break.
BULLS: 13710 13635 13550 BEARS: 13815 13890 13950
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 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 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 also Sideways while 8125 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior Day's Range and the price closed unchanged towards the Close. The Hourly Trend has been in a Range Trading with no Clear Direction , 8250-25 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 until the break. The Opening Price Principles are mixed so cautious approach is needed until the break . AUD and JPY are both Flat , so both may lead the AUDJPY nowhere until the break.
BULLS: 8250 8170 8140 BEARS: 8325 8405 8460
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only