Members login
Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Written by article default Thursday, 04 November 2010 06:22
EURJPY
EURJPY closed @ 11465 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 3 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 Sideways Up while 11335 holds and Daily Trend is Turning Up while 11135 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day' s High and the Bulls were holding till the Close which signifies some more Strength. The MA is suggesting an Upside Bias and the Oscillators are Bullish but Weak. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 11415-11335 are the Critical levels to watch to maintain the Bullish Outlook. The EUR is Flat with a potential to break Higher and the JPY is Flat with a Mixed Bias, so the EUR may drag the EURJPY Higher provided the EUR breaks Higher, so Cautious approach is needed.
BULLS: 11400 11350 11285 BEARS: 11500 11565 11625
Today's Strategies: LONG near 11400 11350 with a tight stop with a 50 pips price target.
GBPJPY
GBPJPY closed @ 13040 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 3 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 Sideways Up while 12900 holds and Daily Trend is Turning Up while 12645 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day' s High and the Bulls gave up partially towards the Close which signifies some Weakness. The MA is suggesting an Upside Bias and the Oscillators are Bullish but Weak. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 12985-00 are the Critical levels to watch to maintain the Bullish Outlook. The GBP is mildly Strong with a potential to break Higher and the JPY is Flat with a Mixed Bias, so the GBP may drag the GBPJPY Higher provided the GBP breaks Higher, 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 @ 8160 which was ABOVE the open and breached the previous day's high. 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 Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Up while 8065 holds and Daily Trend is also Sideways Up while 7940 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day' s High and the Bulls were holding till the Close which signifies some more Strength. The MA is suggesting an Upside Bias and the Oscillators are Bullish but Weak. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 8115-8065 are the Critical levels to watch to maintain the Bullish Outlook. The AUD is Flat with a potential to break Higher and the JPY is Flat with a Mixed Bias, so the AUD may drag the AUDJPY Higher provided the AUD breaks Higher, 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.