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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Friday, 27 August 2010 05:45
EURJPY
EURJPY closed @ 10740 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 15 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 10675 holds and Daily Trend is Limited Down while 11035 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gave up mildly towards the Close which signifies a Choppy session . The Hourly Trend has been in a Range Trading with no clear Direction ,10690-75 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 Mixed Bias and JPY is Flat with a Mixed Bias , so both the Cross may drag the EURJPY nowhere until one of the Cross breaks out of the Range.
BULLS: 10700 10610 10550 BEARS: 10775 10850 10935
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13115 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 13040 holds and Daily Trend is Limited Down while 13515 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gave up mildly towards the Close which signifies a Choppy session . The Hourly Trend has been in a Range Trading with no clear Direction ,13060-40 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 until there is a Clear Break. The Opening Price Principles suggests that GBP is Flat with a Mixed Bias and JPY is Flat with a Mixed Bias , so both the Cross may drag the GBPJPY nowhere until one of the Cross breaks out of the Range.
BULLS: 13085 13040 12990 BEARS: 13185 13235 13285
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 7485 which was UNCHANGED from the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 7425 holds and Daily Trend is Limited Down while 7780 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gave up most of their gains towards the Close which signifies a Choppy session . The Hourly Trend has been in a Range Trading with no clear Direction ,7445-25 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 Mixed Bias and JPY is Flat with a Mixed Bias , so both the Cross may drag the AUDJPY nowhere until one of the Cross breaks out of the Range.
BULLS: 7460 7390 7320 BEARS: 7535 7565 7605
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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