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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 18 August 2010 07:19
EURJPY
EURJPY closed @ 11020 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Sup Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Below the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways while 11045 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 Bulls gained towards the Close which signifies no Clear Direction. The Hourly Trend has been in a Range Trading with a Mixed Bias but the Bears need to crack 10895 level for further gains,11045-70 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 Mixed Bias , so both the Cross may drag the EURJPY nowhere until we see a Clear Break.
BULLS: 10900 10800 10730 BEARS: 11050 11110 11170
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13330 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 PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish but Weak and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 13400 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 towards the Close which signifies no Clear Direction. The Hourly Trend has been in a Range Trading with a Mixed Bias but the Bears need to crack 13220 level for further gains,13365-13400 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 Mixed Bias , so both the Cross may drag the GBPJPY nowhere until we see a Clear Break.
BULLS: 13200 13100 13000 BEARS: 13390 13465 13525
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 7740 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 MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7780 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 Bulls gained towards the Close which signifies no Clear Direction. The Hourly Trend has been in a Range Trading with a Mixed Bias but the Bears need to crack 7630 level for further gains, 7765-80 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 AUD and JPY are Flat with a Mixed Bias , so both the Cross may drag the AUDJPY nowhere until we see a Clear Break.
BULLS: 7690 7640 7580 BEARS: 7735 7775 7830
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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