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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Monday, 20 September 2010 07:05
EURJPY
EURJPY closed @ 11205 which was BELOW the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 11090 holds and Daily Trend is Up while 10775 holds, so expect the Price to be Choppy until Breakout. The Daily Trend breached the Prior Day' s High but the Bears gained marginally towards the Close which signifies a Choppy session with some Weakness. The MA is suggesting a Choppy session with a Bullish Bias and the Oscillators are giving Mixed Signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy Session until the Break ,11155-11090 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is Flat with a potential to Turn Up and JPY is Flat with a Weak Bias , so the EUR may drag the EURJPY Higher after a Reverse Up, so Cautious approach is needed.
BULLS: 11150 11100 11035 BEARS: 11245 11305 11380
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13420 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 13345 holds and Daily Trend is Up while 13085 holds, so expect the Price to be Choppy until Breakout. The Daily Trend breached the Prior Day' s High but the Bulls gained marginally towards the Close which signifies a Choppy session with some Weakness. The MA is suggesting a Choppy session with a Bullish Bias and the Oscillators are giving Mixed Signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy Session until the Break ,13365-45 are the Critical levels to watch to maintain the Bullish Outlook. The GBP is Mildly Strong and JPY is Flat with a Weak Bias , so the GBP may drag the GBPJPY Higher after a Reverse Up, so Cautious approach is needed.
BULLS: 13380 13305 13260 BEARS: 13490 13560 13635
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 8040 which was UNCHANGED from the open and was within prior day's trading range. The High was 70 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Turning Up while 7930 holds and Daily Trend is Up while 7800 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 breached the Prior Day' s High but the Price Closed unchanged towards the Close which signifies a Choppy session with some Weakness. The MA is suggesting a Choppy session with a Bullish Bias and the Oscillators are giving Mixed Signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy Session until the Break , 8000-7930 are the Critical levels to watch to maintain the Bullish Outlook. The AUD is Strong and JPY is Flat with a Weak Bias , so the AUD may drag the AUDJPY Higher, but Cautious approach is needed.
BULLS: 8020 7960 7905 BEARS: 8165 8235 8295
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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