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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Wednesday, 22 September 2010 06:24
EURJPY
EURJPY closed @ 11290 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Tgt 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 Sideways Up while 11160 holds and Daily Trend is Up while 10900 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior few Day' s Range but the Bulls gained aggressively towards the Close which signifies a Choppy session with some Strength. The MA is suggesting a Choppy session with a Bullish Bias and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Price Target of 11400-70 levels and the Patterns are suggesting that the Bulls may Surrender soon,11240-11160 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is Mildly Strong and JPY is Flat with a Strong Bias , so the EUR may drag the EURJPY Higher but may be Limited, so Cautious approach is needed.
BULLS: 11210 11145 11080 BEARS: 11340 11430 11475
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 13295 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 20 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 13385 holds and Daily Trend is Up while 13015 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day' s Range but the Bears gained mildly towards the Close which signifies a Choppy session with until the break. The MA is suggesting a Choppy session and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Price Target of 13210 /13110 levels and the Patterns are suggesting a Choppy Session until the Break,13350-85 are the Critical levels to watch to maintain the Bearish Outlook. The GBP is Mildly Strong and JPY is Flat with a Strong Bias , so Both the Cross may drag the GBPJPY Nowhere until there is a Clear Break, so Cautious approach is needed.
BULLS: 13225 13110 13030 BEARS: 13345 13465 13510
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDJPY
AUDJPY closed @ 8125 which was UNCHANGED from 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 Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 8015 holds and Daily Trend is Up while 7885 holds, so expect the Price to be Choppy until Breakout. The Daily Trend was within the Prior few Day' s Range but the Bulls gained mildly towards the Close which signifies a Choppy session until the Break. The MA is suggesting a Choppy session with a Bulls Weakening and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Price Target of 8150/8265 levels and the Patterns are suggesting that the Bulls may Surrender soon, 8085-15 are the Critical levels to watch to maintain the Bullish Outlook. The AUD is Flat with a Potential to Reverse Down and JPY is Flat with a Strong Bias , so both the Cross may drag the AUDJPY Lower once the AUD has turned Down, so Cautious approach is needed.
BULLS: 8030 7970 7920 BEARS: 8150 8210 8275
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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