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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Tuesday, 17 August 2010 07:07
EURJPY
EURJPY closed @ 10945 which was BELOW the open and breached the previous day's low. 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 Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 11030 holds and Daily Trend is also Sideways while 10730 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 and gave up mildly towards the Close which signifies some strength. The Hourly Trend has been in a Range Trading with a Mixed Bias but the Bears need to crack 10895 level for further gains,10995-11030 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 there is a Clear Break . The Opening Price Principles suggests that EUR and JPY are Flat with a Limited Downside Bias , so both the Cross may drag the EURJPY Higher once the price Reverses up.
BULLS: 10900 10825 10730 BEARS: 10995 11050 11120
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13365 which was BELOW 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 Zone 5 (U Turn Zone). The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 13475 holds and Daily Trend is also Sideways while 13080 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 and gave up mildly towards the Close which signifies some strength. The Hourly Trend has been in a Range Trading with a Mixed Bias,13420-75 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 there is a Clear Break . The Opening Price Principles suggests that GBP and JPY are Flat with a Limited Downside Bias , so both the Cross may drag the GBPJPY Higher once the price Reverses up.
BULLS: 13325 13235 13185 BEARS: 13415 13465 13510
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 7665 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7585 holds and Daily Trend is also Sideways while 7465 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 and gave up partially towards the Close which signifies some strength. The Hourly Trend has been in a Range Trading with a Mixed Bias but the Bulls need to crack 7705-25 level for further gains,7625-7580 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 and JPY are Flat with a Limited Downside Bias , so both the Cross may drag the AUDJPY Higher once the price Reverses up.
BULLS: 7605 7550 7505 BEARS: 7705 7800 7855
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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