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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Monday, 23 August 2010 07:14
EURJPY
EURJPY closed @ 10885 which was BELOW the open and breached the previous day's low. The High was 10 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 10980 holds and Daily Trend is Sideways Down while 11160 holds, so expect the Price to be Choppy until Breakout. The Daily Trend breached the Prior few Day's Range but the Bears gave up mildly towards the Close which signifies mild Strength in the first half of the day. The Hourly Trend has been in a Range Trading with a Mixed Bias but the Bears need to crack 10820 level for further gains,10935-80 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 EUR is Flat with a Weak Bias and JPY is Flat with a Mixed Bias , so the EUR may drag the EURJPY Lower but the EUR should break Lower, so Cautious approach is needed.
BULLS: 10820 10730 10640 BEARS: 10960 11030 11075
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13300 which was BELOW the open and was within prior day's trading range. The High was 10 pips from 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 Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 13375 holds and Daily Trend is also Sideways while 13585 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range but Bears gave up most of their gains 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 13200 level for further gains,13335-75 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 is Flat with a Weak Bias and JPY is Flat with a Mixed Bias , so the Both the Cross may drag the GBPJPY nowhere until one of the Cross leads the direction, so Cautious approach is needed.
BULLS: 13240 13200 13160 BEARS: 13330 13375 13410
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 7650 which was ABOVE 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 2. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7665 holds and Daily Trend is also Sideways while 7935 holds, so expect the Price to be Choppy until Breakout. The Daily Trend breached the Prior few Day's Range but the Bulls gained mildly towards the Close which signifies mild Strength in the first half of the day. The Hourly Trend has been in a Range Trading with a Mixed Bias but the Bears need to crack 7545 level for further gains,7665-85 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 is Flat with a Weak Bias and JPY is Flat with a Mixed Bias , so the AUD may drag the AUDJPY Lower but the AUD should break Lower, so Cautious approach is needed.
BULLS: 7570 7470 7400 BEARS: 7675 7730 7800
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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