Members login
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Monday, 18 October 2010 06:43
EURJPY
EURJPY closed @ 11385 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 11445 holds and Daily Trend is Turning Down while 11575 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior few Day' s Range but the Bears gained towards the Close which signifies some more Weakness . The MA is suggesting a Downside Bias and the Oscillators are Bearish. The Hourly Trend has been marching lower with 11280-20/11165 as Price Targets and the Patterns are suggesting Lower lows are expected, 11415-45 are the Critical levels to watch to maintain the Bearish Outlook. The EUR is very Weak and JPY is Flat with a Mixed Bias , so EUR may drag the EURJPY Lower but approaching Critical levels, so Cautious approach is needed.
BULLS: 11240 11180 11120 BEARS: 11345 11400 11450
Today's Strategies: SHORT near 11345 11400 with a tight stop with a 50 pips price target.
GBPJPY
GBPJPY closed @ 13030 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 Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 13040 holds and Daily Trend is Turning Down while 13330 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior few Day' s Range but the Bears gained mildly towards the Close which signifies some more Weakness . The MA is suggesting a Downside Bias and the Oscillators are Bearish. The Hourly Trend has been marching lower with 12910/12850-00 as Price Targets and the Patterns are suggesting Lower lows are expected, 13040-65 are the Critical levels to watch to maintain the Bearish Outlook. The GBP is Weak and JPY is Flat with a Mixed Bias , so GBP may drag the GBPJPY Lower but approaching Critical levels, so Cautious approach is needed.
BULLS & BEARS : Get the full report by visiting www.precisetrader.com for a Free Trial.
Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.
AUDJPY
AUDJPY closed @ 8070 which was BELOW the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 25 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 8075 holds and Daily Trend is Sideways while 7865 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior few Day' s Range but the Bears gained towards the Close which signifies some more Weakness . The MA is suggesting a Downside Bias and the Oscillators are Bearish. The Hourly Trend has been marching lower with 7980-30/7865 as Price Targets and the Patterns are suggesting Lower lows are expected, 8075/8110 are the Critical levels to watch to maintain the Bearish Outlook. The AUD is Weak and JPY is Flat with a Mixed Bias , so AUD may drag the AUDJPY Lower but approaching Critical levels, so Cautious approach is needed.
BULLS & BEARS : Get the full report by visiting www.precisetrader.com for a Free Trial.
Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.