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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Tuesday, 21 September 2010 06:59
EURJPY
EURJPY closed @ 11195 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 Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 11090 holds and Daily Trend is Up while 10825 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range and the Price Closed unchanged towards the Close which signifies a Choppy session until the Break. 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 ,11145-11070 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 Mixed Bias , so the EUR may drag the EURJPY Higher after a Reverse Up, so Cautious approach is needed.
BULLS: 11150 11075 11000 BEARS: 11245 11340 11425
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13320 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 2. 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 13455 holds and Daily Trend is Up while 13045 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day' s Range and the Bears were holding till 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 Bearish but Weak. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy Session until the Break ,13385-13455 are the Critical levels to watch to maintain the Bearish Outlook. The GBP is Flat with a potential to Turn Up and JPY is Flat with a Mixed Bias , so the GBP may drag the GBPJPY Higher after a Reverse Up, so Cautious approach is needed.
BULLS: 13295 13195 13070 BEARS: 13385 13465 13545
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 8115 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways while 8000 holds and Daily Trend is Up while 7835 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior Day' s Range and the Bulls gained aggressively towards the Close which signifies a Choppy session until the Break. 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 , 8065-00 are the Critical levels to watch to maintain the Bullish Outlook. The AUD is Flat with a Mixed Signals 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, so Cautious approach is needed.
BULLS: 8020 7960 7905 BEARS: 8150 8210 8275
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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