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Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Thursday, 21 October 2010 06:21
EURJPY
EURJPY closed @ 11325 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from 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 Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 11415 holds and Daily Trend is Sideways Down while 11510 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend Rallied Above the Prior Day' s Open and the Bulls were holding till the Close which signifies a Choppy session . The MA is suggesting a Choppy session with a Downside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting a Choppy session until the Break, 11375/11415 are the Critical levels to watch to maintain the Bearish Outlook. The EUR has mild Weakness with a Mixed Bias and JPY is Flat with a Mixed Bias , so EUR may drag the EURJPY Lower but may be Limited, so Cautious approach is needed.
BULLS: 11245 11200 11140 BEARS: 11345 11385 11435
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPJPY
GBPJPY closed @ 12850 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 25 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Down while 12935 holds and Daily Trend is also Sideways Down while 13130 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior Day' s Range and the Bulls gained towards the Close which signifies a Choppy session . The MA is suggesting a Choppy session with a Downside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting a Choppy session until the Break, 12905-35 are the Critical levels to watch to maintain the Bearish Outlook. The GBP has mild Weakness with a Mixed Bias and JPY is Flat with a Mixed Bias , so GBP may drag the GBPJPY Lower but may be Limited, so Cautious approach is needed.
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AUDJPY
AUDJPY closed @ 8005 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 Res Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 8075 holds and Daily Trend is Sideways Down while 8185 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend Rallied Above the Prior Day' s Open and the Bulls were holding till the Close which signifies a Choppy session . The MA is suggesting a Choppy session with a Downside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting a Choppy session until the Break, 8045-75 are the Critical levels to watch to maintain the Bearish Outlook. The AUD has mild Weakness with a Mixed Bias and JPY is Flat with a Mixed Bias , so AUD may drag the AUDJPY Lower but may be Limited, so Cautious approach is needed.
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