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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 25 August 2010 06:38
EURJPY
EURJPY closed @ 10595 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 40 pips from Precise Trader's Sup Zone 10. The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 10540 holds and Daily Trend is Limited Down while 10935 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend Plunged below the Prior Day's Low but the Bears gave up mildly towards the Close which signifies some Strength a head. The Hourly Trend has been in a Range Trading with an Upside Bias but the Bulls need to crack 10710 for further gains,10565-40 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 with a Potential to break Higher . The Opening Price Principles suggests that EUR is Flat with an Upside Bias and JPY is Weak with an Upside Bias , so both the Cross may drag the EURJPY Higher but 10700-25 barrier should be Cleared for further gains.
BULLS: 10630 10575 10525 BEARS: 10710 10800 10900
Today's Strategies: Trade @ the Bulls Levels Only.
GBPJPY
GBPJPY closed @ 12920 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 10. The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 12865 holds and Daily Trend is Limited Down while 13425 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend Plunged below the Prior Day's Low but the Bears gave up mildly towards the Close which signifies some Strength a head. The Hourly Trend has been in a Range Trading with an Upside Bias but the Bulls need to crack 13060 for further gains, 12885-65 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 with a Potential to break Higher . The Opening Price Principles suggests that GBP is Flat with an Upside Bias and JPY is Weak with an Upside Bias , so both the Cross may drag the GBPJPY Higher but 13060-95 barrier should be Cleared for further gains.
BULLS: 12945 12865 12780 BEARS: 13045 13110 13175
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 7400 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 10. The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 7360 holds and Daily Trend is Limited Down while 7780 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend Plunged below the Prior Day's Low but the Bears gave up mildly towards the Close which signifies some Strength a head. The Hourly Trend has been in a Range Trading with an Upside Bias but the Bulls need to crack 7505 for further gains, 7375-60 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 with a Potential to break Higher . The Opening Price Principles suggests that AUD is Flat with an Upside Bias and JPY is Weak with an Upside Bias , so both the Cross may drag the AUDJPY Higher but 7505 barrier should be Cleared for further gains.
BULLS: 7435 7360 7300 BEARS: 7505 7565 7615
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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