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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Tuesday, 27 July 2010 06:43
EURJPY
EURJPY closed @ 11290 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 11220 holds and Daily Trend is Sideways Up while 11005 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range and the Price closed Unchanged towards the Close. The Hourly Trend has been in a Range Trading with no Clear Direction,11240-20 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 there is a Clear Break . The Opening Price Principles suggests that EUR is Flat with a Limited Upside Bias and JPY is Flat with a Sideways Bias , so the EUR may drag the EURJPY Higher but Cautious approach is needed .
BULLS: 11230 11175 11100 BEARS: 11365 11465 11525
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13455 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 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 13310 holds and Daily Trend is also Sideways while 13085 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range but the Bears gained mildly towards the Close. The Hourly Trend has been in a Range Trading with no Clear Direction,13400-13310 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 there is a Clear Break . The Opening Price Principles suggests that GBP is Flat with a Limited Upside Bias and JPY is Flat with a Sideways Bias , so the GBP may drag the GBPJPY Higher but Cautious approach is needed .
BULLS: 13410 13330 13250 BEARS: 13560 13660 13710
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 7840 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 10 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 7760 holds and Daily Trend is Sideways Up while 7665 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range and the Price closed Unchanged towards the Close. The Hourly Trend has been in a Range Trading with no Clear Direction,7800-7760 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 there is a Clear Break . The Opening Price Principles suggests that AUD is Flat with a Limited Upside Bias and JPY is Flat with a Sideways Bias , so the AUD may drag the AUDJPY Higher but Cautious approach is needed .
BULLS: 7785 7735 7675 BEARS: 7875 7915 8010
Today's Strategies: Trade @ the Bulls Levels Only.
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