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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Tuesday, 07 September 2010 06:40
EURJPY
EURJPY closed @ 10845 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 and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 10905 holds and Daily Trend is Sideways while 11120 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend is Mixed with a Bearish Bias but the Price Closed Unchanged which signifies Choppy session until the break . The MA is suggesting it is Turning Bearish and the Oscillators are suggesting Bearish . The Hourly Trend has been in a Range Trading with a Downside Bias and the Patterns are suggesting Bearish but Cautious approach is needed ,10875-10905 are the Critical levels to watch to maintain the Bearish Outlook. The EUR is Weak with a Mixed Bias and JPY is Flat with a Mixed Bias, so the EURJPY may break Lower but may be limited , so Cautious approach is needed.
BULLS: 10745 10685 10625 BEARS: 10865 10905 10965
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 12965 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 2. 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 13070 holds and Daily Trend is also Sideways while 13550 holds, so expect the Price to be Choppy until Breakout. The Daily Trend is Mixed with a Bearish Bias but the Price Closed Unchanged which signifies Choppy session until the break . The MA is suggesting a Mixed Signals and the Oscillators are suggesting Bearish but Weak . The Hourly Trend has been in a Range Trading with no Clear Direction and the Patterns are suggesting a Choppy session until the Break,13020-70 are the Critical levels to watch to maintain the Bearish Outlook. The GBP is Flat with a Mixed Bias and JPY is Flat with a Mixed Bias, so the GBPJPY may go nowhere until one of the Cross breaks out, so Cautious approach is needed.
BULLS: 12885 12785 12720 BEARS: 13020 13075 13125
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 7725 which was UNCHANGED from 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 5 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 7625 holds and Daily Trend is also Sideways while 7945 holds, so expect the Price to be Choppy until Breakout. The Daily Trend is Mixed with a Bearish Bias but the Bulls gained mildly Towards the Close which signifies Choppy session until the break . The MA is suggesting a Mixed Signals and the Oscillators are suggesting Bearish but Weak . The Hourly Trend has been in a Range Trading with no Clear Direction and the Patterns are suggesting a Choppy session until the Break , 7685-25 are the Critical levels to watch to maintain the Bullish Outlook. The AUD is Flat with a Mixed Bias and JPY is Flat with a Mixed Bias, so the AUDJPY may go nowhere until one of the Cross breaks out, so Cautious approach is needed.
BULLS: 7665 7585 7505 BEARS: 7745 7825 7905
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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